Elastic Demand Is Usually a Result of the Lack of Substitute

question 104

True/False

Elastic demand is usually a result of the lack of substitute products.

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Definitions:

Customer Contact Audit

An analysis of all the touchpoints a customer has with a company, aimed at improving customer service and enhancing customer satisfaction.

Dentist Visit

An appointment with a dental care professional for oral health assessment, treatment, or both.

Seven Ps

An extended version of the marketing mix that includes Product, Price, Place, Promotion, People, Process, and Physical evidence; used by businesses to ensure they are marketing effectively.

LA Galaxy

A professional soccer team based in Los Angeles, known for competing in Major League Soccer (MLS).