Examlex

Solved

The "Invisible Hand" Refers to

question 85

Multiple Choice

The "invisible hand" refers to


Definitions:

Value Proposition

The unique value that a product or service provides to its customers and how it is better than and different from those of competitors.

Product

Anything that is of value to a consumer and can be offered through a voluntary marketing exchange.

Price

The overall sacrifice a consumer is willing to make—money, time, energy—to acquire a specific product or service.

Geodemographic Segmentation

The grouping of consumers on the basis of a combination of geographic, demographic, and lifestyle characteristics.

Related Questions