The S.A.V.E.approach Was the Result Of

question 38

Multiple Choice

The S.A.V.E.approach was the result of:

• A)a five-year study of 500 managers and customers conducted by the Harvard Business School
• B)a need to update the approach of the 4 Ps to be suitable for Internet products
• C)a need for an easier to understand approach to the marketing mix
• D)a need to focus on service-related companies

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Definitions:

Variety

Refers to the range of different products, services, or choices available in a particular area or sector.

Monopolistic Competition

A trading structure with many entities vending items that are akin but not identical, providing them with some form of market authority and the option to set their products apart.

Market Structure

The organizational and other characteristics of a market, including the level of competition and distribution of market power among firms.

Monopolistic Competition

An economic context characterized by a multitude of firms offering items that are related but not clones, providing them an edge in the market.