To Make Intangible Products More Tangible or Real to the Consumer

question 185

Multiple Choice

To make intangible products more tangible or real to the consumer, marketers often

• A)use low prices on intangible goods.
• B)use symbols or cues to help symbolize product benefits.
• C)use external reference prices.
• D)use multiple channels of distribution.
• E)offer more support services with such products.

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Definitions:

P > MC

A condition suggesting that the price of a product is greater than its marginal cost, which is often used to indicate potential profitability in a competitive market.

Payoff Matrix

A table that shows the potential outcomes of a strategic decision made by two or more players, highlighting the benefits or losses based on each player's decisions.

Dominant Strategy

A strategy in game theory that is best for a player, regardless of the strategies chosen by other players.

Price High

Typically refers to a situation where the price of a good or service is higher than usual, which can result from high demand, low supply, or other market conditions.