Transactional Channel Functions Include All of the Following Activities EXCEPT

question 138

Multiple Choice

Transactional channel functions include all of the following activities EXCEPT:

• A) explaining product benefits
• B) making buyers aware of existing products
• C) explaining product features, advantages, and benefits
• D) contacting and communicating with prospective buyers
• E) physically distributing and sorting products

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Definitions:

Backward-Bending

A term often used in labor economics to describe the supply curve of labor, which can bend backwards at higher wage levels, indicating that higher wages can lead to a decrease in labor supply.

Substitution Effect

The economic principle that as the price of a good or service rises (or incomes decrease), consumers will replace pricier items with less costly alternatives, holding the utility derived from consumption constant.

Price Decreases

Price decreases occur when the cost of goods or services goes down, often due to factors like increased competition, lower demand, or decreases in production costs.

Income Effect

The effect of changes in either individual or economic income on the demand levels for goods or services.