Online Consumers Are Called Empowered Consumers Because

question 232

Multiple Choice

Online consumers are called empowered consumers because

• A) products and services purchased online often cost less than in a retail store.
• B) online shopping does not require that they fight traffic, find a parking space, walk long store aisles, and wait in line at checkout.
• C) they are more informed and discerning shoppers.
• D) there are websites for almost any good or service they want.
• E) they can engage in an electronic dialogue with marketers.

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Definitions:

Monopolistically Competitive

A market structure characterized by many firms selling similar but not identical products, allowing for some degree of market power.

Diseconomies of Scale

A situation where, as a company or production process increases in size, the cost per unit increases, usually due to inefficiencies.

Advertising Costs

Advertising costs are expenses incurred to promote products, services, or brands through various media channels.

Technological Advance

The development and application of innovative technologies that improve efficiency, productivity, and capabilities within various industries or sectors.