If the Essential Benefit of a Product Is Not Met

question 82

True/False

If the essential benefit of a product is not met, the other items the marketer creates have little or no meaning to the customer.

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Definitions:

Price Effect

The impact that a change in the price of a good or service has on its demand or supply.

Total Revenue

The total income generated by the sale of goods or services, calculated as the product of the price per unit and the number of units sold.

Price Elasticity

A measure of how much the quantity demanded of a good changes in response to a change in price.

Total Revenue

The overall amount of money generated by a firm from its sales activity, reflecting its business performance.