In the Market Introduction Stage of a Fast Product Life

question 14

Multiple Choice

In the market introduction stage of a fast product life cycle, _____ helps develop loyal customers early and keeps competitors out.

• A) a low initial penetration price
• B) intensive distribution
• C) promotion that builds selective demand
• D) promotion that reminds
• E) a market skimming price

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Definitions:

Labor Union

An organization formed by workers to protect their rights and interests, including negotiating wages and working conditions.

Union Shop

A workplace where employees are not required to join the union as a condition of employment, but must join within a certain period of time after hire.

Labor Demand

The total amount of workers that employers want to hire at a given wage rate and time.

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity demanded at those prices, typically downward sloping.