Driving Time, Proximity, and Hours of Operation for Stores, and the Usability

question 252

Multiple Choice

Driving time, proximity, and hours of operation for stores, and the usability of a website are all examples of which buyer requirement?

• A) information
• B) variety
• C) pre- or postsale services
• D) adaptability
• E) convenience

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Definitions:

Herfindahl Index

A metric reflecting the relative sizes of companies within a market sector, shedding light on the intensity of competition.

Antitrust Violations

Illegal practices that reduce or restrict competition in the marketplace, often investigated and penalized by governmental organizations.

Market Share

The portion of a market controlled by a particular company, often expressed as a percentage of total sales in that market.

Herfindahl Index

An indicator of how concentrated a market is, calculated by squaring the market shares of all firms in the market and adding these squared values together.