The Combination of All the Factors That Consumers Evaluate When

question 121

Multiple Choice

The combination of all the factors that consumers evaluate when deciding whether or not to buy a good or service is called a

• A) total product offer.
• B) product mix.
• C) product differentiation.
• D) product package.

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Definitions:

Material Fact

Information that is significant enough to influence a decision or the outcome of a legal case or transaction.

Unilateral Mistake

The result of an error by one party about a material fact, that is, one that is important in the context of a particular contract.

Genuine Assent

An agreement to enter into a contract that is not clouded by factors such as fraud, duress, or mistake, indicating true and voluntary agreement.

Misrepresentation

A false statement of fact made by one party to another party, which has the effect of inducing that party into a contract.