To Help Consumers Assess and Compare Services, Marketers Try to Make

question 111

Multiple Choice

To help consumers assess and compare services, marketers try to make them __________ or show the benefits of using the service.

• A)intangible
• B)consistent
• C)tangible
• D)timely
• E)measurable

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Definitions:

Vickrey Auction

A type of sealed-bid auction where the highest bidder wins but pays the price offered by the second-highest bid.

Foreclosed

The judicial procedure that ends an owner's claim to a property, often because of the inability to keep up with mortgage payments.

Expected Revenue

The anticipated amount of money that a business expects to receive from its activities or sales, based on probabilistic assessment of future sales.

Private-Values Auction

A type of auction in which each bidder knows their own valuation of the item for sale, but this valuation is private and may differ from that of other bidders.