When Consumers Are Making Do with Less Expensive Products and Shopping

question 101

Multiple Choice

When consumers are making do with less expensive products and shopping more selectively, manufacturers and retailers must focus on the ____ of their products.

• A)price
• B)quality
• C)availability
• D)value
• E)image

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Definitions:

Advertising Agencies

Companies that specialize in creating, planning, and handling advertising (and sometimes other forms of promotion) for their clients.

Financial Markets

consist of platforms or systems where buyers and sellers engage in trading financial securities, commodities, and other fungible items of value.

Academic Researchers

Individuals engaged in the systematic pursuit of knowledge in various fields, typically within institutions, focusing on empirical evidence and theoretical understanding.

Co-creation

A business strategy that involves consumers or clients in the creation process of new products or services, aiming to better meet their needs and enhance innovation.