Based on the Example Shown of the S

question 70

Multiple Choice

Based on the example shown of the S.A.V.E.approach, why is education an alternative to promotion?

• A)Through websites and social media, it is easy to provide up-to-date and relevant information that customers will want to read.
• B)Customers are better educated today than in previous generations.
• C)An education approach provides a "softer" approach to sales than promotion.
• D)When you are promoting a product, you are actually providing education.

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Definitions:

Total Cost

The sum of fixed and variable costs incurred by a business in producing a certain level of output.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating sensitivity.

Marginal Product

The increase in output that results from adding one more unit of a specific input, while keeping other inputs constant.

Substitutability

The degree to which one good can be replaced by another in consumption or production without affecting consumer satisfaction or output.