Examlex
Marketers successfully use soundtracks of a frequently viewed TV commercial on radio. Consumers who are familiar with the TV commercial perceive the radio as incomplete, so in their need for completion they mentally play back the visual content as well. This is an example of:
Price Wars
A competitive situation where retailers or producers continually reduce prices to undercut competitors, often at the expense of profit.
Approach Zero
A concept in mathematics and economics where a variable gets infinitely close to zero but never actually reaches zero.
Standard Oil Company
An American oil producing, transporting, refining, and marketing company established by John D. Rockefeller and associates in 1870, known for its historical monopoly in the industry.
Antitrust Policy
Legislation and regulations designed to promote competition and prevent monopolies by regulating the conduct of companies to ensure fair competition.
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