Which of the Following Better Explains 'Auction Forward

question 20

Multiple Choice

Which of the following better explains 'Auction Forward'? 

• A) An e-auction which is used by suppliers to enforce bidding among a number of prospective buyers based on a starting price that is increased during the auction. 
• B) An e-auction which is used by buyers to enforce bidding among a number of prospective suppliers based on a starting price that is increased during the auction. 
• C) An e-auction which is used by suppliers to minimise bidding among a number of prospective buyers based on a starting price that is increased during the auction. 
• D) An e-auction which is used by suppliers to enforce bidding among a number of prospective buyers based on a starting price that is decreased during the auction.

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Definitions:

Cosmetics Company

A business entity that manufactures, distributes, and sells beauty and personal care products.

Marketing Mix

A set of marketing tools—often referred to as the 4Ps (product, price, place, and promotion)—that businesses use to pursue their marketing objectives.

Competitive Price

A pricing strategy where a product or service is offered at a price considered to be more attractive than those of the competitors.

Television Advertisements

Marketing messages broadcasted through television channels to promote products, services, or ideas to a wide audience.