Which of the Following Techniques Guides Short-Term Marketing Activities

question 1

Multiple Choice

Which of the following techniques guides short-term marketing activities?

• A) Strategic marketing plan
• B) Annual marketing plan
• C) Situation analysis
• D) Positioning strategy

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Definitions:

Inferior Goods

Goods for which demand decreases as consumer income rises, opposite to normal goods.

Normal Goods

Goods for which demand increases as consumer income rises, and decreases as consumer income falls.

Complements

Goods or services that are often used together, where an increase in demand for one leads to an increase in demand for the other.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with high elasticity indicating a strong response and low elasticity indicating a weak response.