The Tendency for Consumers to Purchase More of a Good

question 87

Multiple Choice

The tendency for consumers to purchase more of a good or service as its price falls is called

• A)the law of supply.
• B)the law of increasing cost.
• C)the Low-Hanging Fruit principle.
• D)the law of demand.

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Definitions:

Target Market

A specific group of potential customers at whom a company aims its products or services, identified through various demographics, interests, or behaviors.

Marketing Program

A comprehensive plan that integrates all marketing efforts, from advertising and promotions to online presence, designed to achieve specific business objectives.

Advertising

The act of promoting products, services, or brands through various media channels to attract and engage consumers.

Marketing Manager's Controllable Factors

Elements such as product, price, place, and promotion that marketing managers can directly manipulate to achieve marketing objectives.