Value Is Usually Created When ________

question 37

Multiple Choice

Value is usually created when ________.

• A)the end user enjoys direct pleasure and satisfaction from a company's product
• B)a company survives but has no real competitive advantage over rivals
• C)a company eliminates quality control processes as much as possible
• D)the steps in the production chain of a company are reduced

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Definitions:

Bait-and-Switch

A deceptive marketing practice where customers are lured by an advertised deal that is too good to refuse and then are pressured into purchasing a more expensive item or service.

Competition Act

A law designed to regulate competitive practices in the marketplace, prevent monopolies, and protect consumer interests by promoting fair trade and competition.

Marketing Activities

Efforts and actions associated with promoting, selling, and distributing a product or service to consumers.

Common Law

is a legal system based on custom and court rulings as opposed to statutory laws.