Marketers Must Change Their Conventional Marketing Practices to Sell Their

question 84

Multiple Choice

Marketers must change their conventional marketing practices to sell their products to developing countries.One of the changes that marketers can make is to ________.

• A) reduce the price of the product but increase the packaging size
• B) reduce the size but keep the pricing the same
• C) reduce the price of the product but keep packaging size the same
• D) reduce the size and price of the packaging
• E) increase the price and the packaging size because these countries have never seen the product before

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Definitions:

MR = MC Rule

An economic principle that states a firm will maximize its profit when its marginal revenue equals its marginal cost.

Additional Unit

Refers to the next unit of a good or service to be produced or consumed, often discussed in the context of marginal analyses, such as marginal cost or marginal utility.

MR = MC Rule

The MR=MC rule states that profit maximization occurs when a firm produces at a level where marginal revenue equals marginal cost.

Price Taker

A market participant that accepts market prices as given and cannot influence those prices.