The Number of Intermediaries Between the Producer and the Consumer

question 121

Multiple Choice

The number of intermediaries between the producer and the consumer is known as the

• A) channel quality.
• B) marketing mix.
• C) channel length.
• D) experience curve.

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Definitions:

Benefits

The advantages or profits gained from something, including goods, services, or actions.

Elastic Demand

A situation where the demand for a product is sensitive to price changes, indicating that a small change in price can lead to a significant change in the quantity demanded.

Less Elastic

Describes a situation where a change in price leads to a relatively smaller change in the quantity demanded or supplied.

Market Segment

A group of potential customers who share similar needs or characteristics that a company targets with its products or services.