In Developing an Online Selling Strategy Small Ebusinesses Must Build

question 30

Multiple Choice

In developing an online selling strategy small ebusinesses must build an online presence. This should be done as follows:

• A) hire a consultant, register a few websites, list contact information
• B) decide on a strategy, build/outsource a site, market and evaluate
• C) copy an existing site of a competitor and make modifications
• D) build a website, get a 1-800 number and close the bricks store
• E) none of the above

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Definitions:

Coefficient

A numerical value that multiplies a variable in an equation, serving as a measure of some property or characteristic.

Price Elasticity

Refers to how sensitive the quantity demanded of a good is to a change in its price.

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity demanded for a given period.

Price Elasticity

measures how sensitive the quantity demanded or supplied of a good is to a change in its price, indicating the responsiveness of market participants to price changes.