A Firm Offer Differs from an Option in That,a Firm

question 56

Multiple Choice

A firm offer differs from an option in that,a firm offer:

• A) is a separate contract by itself.
• B) is irrevocable for a certain period of time.
• C) does not require a consideration in exchange for the offer.
• D) is not covered under the UCC.

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Definitions:

Pull Strategy

The use of promotion to create consumer demand for a product so that consumers exert pressure on marketing channel members to make it available.

Push Strategy

An attempt to motivate intermediaries to push the product down to their customers.

Personal Selling

Direct, two-way communication with buyers and potential buyers.