When Nike Attempts to Get Close to Its Customers at the Local

question 123

Multiple Choice

When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes, equipment, and clothing to many of them, Nike is using which of the following marketing formats?

• A) instructional marketing
• B) consumer marketing
• C) partner marketing
• D) grassroots marketing
• E) differentiated marketing

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Definitions:

Marginal Rate Of Substitution

The speed at which a consumer is able to forfeit a certain quantity of one product in favor of another product, whilst retaining an equivalent level of satisfaction.

Efficiency

Efficiency in an economic context refers to the optimal production and allocation of resources to maximize the satisfaction of needs and wants with minimal waste.

Edgeworth Box Diagram

A graphical representation used in economics to show various distributions of resources and to demonstrate the efficiency of markets.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs, assuming all resources are fully and efficiently utilized.