The Partnering for Success Feature in Chapter 9 Focuses on IConclude

question 28

Multiple Choice

The Partnering for Success feature in Chapter 9 focuses on iConclude, a company that set up a customer advisory board. The main point of the feature is:

• A) the proper time to set up a customer advisory board is just after a business has been launched
• B) the members of a firm's customer advisory board should be a diverse as possible
• C) a customer advisory board can be a good source of new product or service ideas
• D) the main purpose of a customer advisory board is to assess customer satisfaction
• E) setting up a customer advisory board before a business is launched can be a useful way of getting feedback while a product is being developed

---

Definitions:

Price Makers

Entities that have the ability to control the prices of the products or services they offer, due to lack of significant competition.

Downward-Sloping Demand

Describes the general tendency for the demand for a good or service to decrease as its price increases.

Monopolistic Competitors

Firms in a market structure where many companies sell products or services that are similar but not identical, allowing for competition based on quality, price, and branding.

Linear Demand Curve

A demand curve that shows a constant relationship between price and quantity demanded, typically resulting in a straight line when graphed.