If an Increase in the Price of Pepsi Prompts Some

question 15

Multiple Choice

If an increase in the price of Pepsi prompts some consumers to buy close substitutes,the demand for Pepsi is _____

• A)relatively price elastic.
• B)relatively income elastic.
• C)relatively price inelastic.
• D)unit elastic.
• E)perfectly elastic.

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Definitions:

FAB Sequences

Stands for Features, Advantages, and Benefits; a sales technique that links product features to their advantages and the benefits for the customer.

Preparation

The process of getting ready for a specific event, activity, or undertaking by planning and arranging the necessary components.

Customer Understanding

The process and result of comprehending customers' needs, preferences, and behaviors.

Trial Close

A technique used in sales to gauge a potential buyer's interest or objections by asking for their opinion or commitment before the final close.