The Introduction of Consumer VCRs in the Late 1970s Initiated

question 27

Multiple Choice

The introduction of consumer VCRs in the late 1970s initiated a revolutionized in-home electronic entertainment.For example,assuming the user could learn to set the timer,he or she could tape programs to watch at a later time.The VCR's popularity also gave rise to an entirely new retailing concept,the video rental store.What type of innovation did the consumer VCR represent?

• A)a continuous innovation
• B)a dynamically continuous innovation
• C)a discontinuous innovation
• D)a comparative innovation
• E)none of the above

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Definitions:

Pricing Strategies

The methods and tactics businesses employ to price their products or services effectively to attract customers and achieve profitability.

Flexible Cost-plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to a product's variable cost, allowing for adjustments based on market conditions.

Competitive Influences

External pressures that affect how companies operate and compete with one another within the market.

Global Online Markets

Electronic platforms where businesses and consumers from around the world can engage in the trade of goods and services across international borders.