To Help Consumers Assess and Compare Services, Marketers Try to Make

question 238

Multiple Choice

To help consumers assess and compare services, marketers try to make them tangible or

• A) temporal.
• B) consistent with expectations or promises.
• C) adaptable.
• D) measurable.
• E) show the benefits of using the service.

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Definitions:

Demand Functions

Mathematical expressions that show the relationship between the quantity demanded of a good or service and its price.

Market Equilibrium

A condition in a market where the quantity supplied is equal to the quantity demanded at a certain price level.

Markup

The amount that retailers add on to the wholesale price of an item.

Selling Price

The amount of money a buyer pays to purchase a product or service.