In Response to the Need to Develop Greater and Greater

question 92

Multiple Choice

In response to the need to develop greater and greater mass markets for their products, American business in the 1920s relied especially on the new techniques of

• A) developing a large range of product variation.
• B) price competition.
• C) direct selling through catalogs and door-to-door solicitation.
• D) consumer advertising.
• E) government-backed guarantees of product performance.

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Definitions:

Resale Price Maintenance

A practice where manufacturers and distributors agree on the price at which a product will be sold in retail, limiting what retailers can charge.

Antitrust Laws

Antitrust laws are regulations designed to promote competition and prevent monopolies and other forms of market domination that could harm consumers.

Controversial Business Practices

Practices in business that raise ethical, social, or environmental concerns and are debated by the public and experts alike.

Tying Strategy

A marketing strategy where a company requires customers to buy a secondary product or service together with a primary product.