A Price-Off Program

question 178

Multiple Choice

A price-off program:

• A)is effective for individuals that have a high degree of brand loyalty to a competing brand.
• B)has little impact on sales.
• C)usually boosts sales, but it can hurt profits.
• D)decreases price sensitivity over time.

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Definitions:

A.W. Phillips

An economist known for describing the inverse relationship between rates of unemployment and corresponding rates of inflation, which is now known as the Phillips Curve.

United Kingdom

A sovereign country located off the northwestern coast of mainland Europe, comprising England, Scotland, Wales, and Northern Ireland.

Rate Of Change

The speed at which a variable changes over a specific period of time.

Sacrifice Ratio

The measure of the decline in annual output required to reduce inflation by one percentage point.