If the Demand for a Product Decreases,we Would Expect

question 28

Multiple Choice

If the demand for a product decreases,we would expect

• A)equilibrium price to increase and equilibrium quantity to decrease.
• B)equilibrium price to decrease and equilibrium quantity to increase.
• C)equilibrium price and equilibrium quantity to both increase.
• D)equilibrium price and equilibrium quantity to both decrease.

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Definitions:

Product Invention

The process of creating new products or significantly improving existing ones to meet consumer needs or market niches.

Communication Adaptation Strategy

A method used by companies to adjust their marketing messages and communication tactics to accommodate cultural or regional differences within target markets.

Dual Adaptation Strategy

A marketing approach where both the product and the marketing messages are adapted to suit the needs and preferences of different market segments or regions.

Product Extension Strategy

A marketing strategy in which a company introduces additional items in the same product category under the same brand name, such as new flavors, forms, colors, added ingredients, or package sizes.