If Price Is Cut and Demand Is Elastic, Then

question 40

Multiple Choice

If price is cut and demand is elastic, then

• A)total revenue will fall.
• B)total revenue will not change.
• C)quantity demanded will fall.
• D)total revenue will rise.

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Definitions:

Marketing Plan

A strategic blueprint that outlines a company's overall marketing efforts, including objectives, market analysis, strategies, and tactics.

Trial Close

A sales technique involving asking a potential customer a question that assumes the sale is going to be made, in order to gauge their readiness to buy.

FAB

An acronym for Features, Advantages, and Benefits, a sales and marketing strategy focusing on the product's aspects and their value to the customer.

SELL Sequence

A structured approach in sales that typically includes steps such as Show features, Explain advantages, Lead into benefits, and Let the customer talk.