Realizing That Its Product Needed a Warranty to Gain Rapid

question 108

Multiple Choice

Realizing that its product needed a warranty to gain rapid market acceptance, what did the manufacturer of a high-tech system for investigating accidents produce?

• A)a statement for salespeople to read to prospective buyers
• B)an acknowledgment of company responsibilities for salespeople to build into presentations
• C)a label stating the product is of the highest quality and backed by years of manufacturing experience
• D)a written guarantee that the product would work as promised and that it is fit for the purpose for which it was sold

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Definitions:

Fastest Growing

Referring to entities, such as industries or economies, that experience the most rapid expansion in terms of revenue, size, or influence within a specific period.

Elasticity

An indicator of the degree to which the demand or supply of a product fluctuates following a variation in its price.

Resource Demand

The desire and ability of consumers or firms to acquire specific quantities of resources at various prices.

Marginal Revenue Product

The increased earnings resulting from the application of an extra unit of a resource, such as capital or labor.