A Company Decides to Give Some Product Units to Its

question 10

Multiple Choice

A company decides to give some product units to its target market for free.Which of the following is most likely to be the objective of this initiative?

• A) Increasing the switching costs associated with the product
• B) Empathizing with the problems and issues faced by customers
• C) Building a channel for communicating with customers
• D) Promoting brand trial of the product
• E) Signalling that the product is of high quality by improving its tangibles

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Definitions:

Binomial Formula

A mathematical formula used to determine the probability of obtaining a fixed number of successes in a specific number of trials in a binomial experiment.

Standard Deviation

An indicator of the degree to which values in a dataset spread out or deviate from the average value of the collection.

Mean

The average of a set of numbers, obtained by dividing the sum of the numbers in the set by their quantity.

Cumulative Binomial Probabilities

Cumulative binomial probabilities represent the probability of obtaining a certain number of successes or fewer in a fixed number of independent Bernoulli trials.