With Respect to the Different Components of the Total Product

question 38

Multiple Choice

With respect to the different components of the total product offering, supplemental products play the important role of:

• A) meeting basic customer needs.
• B) delivering the main core benefits of the product offering.
• C) adding symbolic benefits to the product offering.
• D) delivering the minimum level of quality demanded by customers.
• E) differentiating the product offering from competing products.

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Definitions:

Standardized Contracts

Agreements using set terms and conditions for consistent application across many transactions or participants.

Estoppel

That state of affairs that arises when one is forbidden by law from alleging or denying a fact because of his previous action or inaction.

Legal Defense

Arguments and evidence presented by the defendant in a legal proceeding to justify or excuse their actions and oppose the plaintiff's or prosecutor's case.

Consideration

The benefit, interest, or value that induces a party to enter into a contract; essential for a contract to be legally binding.