Which of the Following Represents a Basis on Which Customers

question 28

Multiple Choice

Which of the following represents a basis on which customers will choose a firm's product or service over others available in the market?

• A)Mission statement
• B)Marketing mix
• C)Differential advantage
• D)The pricing strategy

Understand the different scales of measurement and their characteristics.

Identify and apply the appropriate graphical representation for different types of data.

Distinguish between measures of central tendency and their application.

Recognize the appropriate statistical method to describe and analyze data based on the scale of measurement.

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Definitions:

Actual Cause

In tort law, the relationship between the unreasonable conduct and the injury to the innocent party, whether the injury was or was not foreseeable. Actual cause is also referred to as cause-in-fact.

Equal Credit Opportunity Act

A U.S. law that aims to give all individuals an equal chance to apply for loans and other forms of credit, regardless of race, religion, national origin, gender, age, or marital status.

Public Assistance Income

Financial support provided by government agencies to individuals and families who have low income or no income, to help them meet their basic needs.

Cooling-Off Rule

A Federal Trade Commission rule under which sales of consumer goods or services over $25 made away from the seller’s regular place of business may be canceled within three business days after the sale occurs.