To Increase Value, Marketers Have the Option of

question 149

Multiple Choice

To increase value, marketers have the option of

• A)decreasing benefits.
• B)decreasing benefits and increasing price.
• C)decreasing price and increasing benefits.
• D)decreasing price and decreasing benefits.
• E)do nothing and let the perceived value of the item increase as it matures in the life cycle.

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Definitions:

Standard Formulas

Preset, widely accepted methods or procedures used in calculations, measurements, or problem solving.

Bypassing

A process of avoiding an obstacle or barrier by creating an alternative path or method.

Sender and Receiver

The parties involved in communication, where one sends a message and the other receives it.

Social Responsibility

The ethical framework that suggests individuals or organizations have an obligation to act for the benefit of society at large.