Write the Correct Meaning for VCD

question 24

Short Answer

Write the correct meaning for VCD:

Appreciate the strategy of emphasizing non-price value in sales messaging.

Acknowledge the importance of gathering information as the first step in planning persuasive messages.

Understand methods of increasing perceived value and decreasing perceived cost in marketing.

Recognize the importance of credibility and legal compliance in promotional messages.

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Definitions:

Amartya Sen

An Indian economist and philosopher, awarded the 1998 Nobel Memorial Prize in Economic Sciences for his contributions to welfare economics and social choice theory.

Globalization

The method through which companies or various entities gain international prominence or begin functioning globally.

Nobel Prize-winning Economist

An economist who has been awarded the Nobel Prize in Economic Sciences for their contributions to understanding and advancements in economics.

Industrial Products

Goods produced and used in industrial processes, such as machinery, equipment, and raw materials.