What Can a Marketing Manager Do to Make Demand for His

question 13

Multiple Choice

What can a marketing manager do to make demand for his or her product more inelastic?

• A)eliminate any unique products from the product line
• B)cultivate selected demand
• C)avoid making any product changes
• D)implement escalator pricing

---

Definitions:

Equal Chance

This term means having the same probability or likelihood of occurring as another event, situation, or outcome.

Statistically Significant

A term indicating that the likelihood of an observed difference or relationship happening by chance is low, typically below a pre-set threshold of probability.

P-value

A statistical measure indicating the probability that the observed data would occur by chance if the null hypothesis were true.

Inferential Statistics

Statistical methods that allow conclusions to be drawn about populations based on sample data.