The Use of Trade Shows,conventions,and Conferences to Contact Customers

question 22

Multiple Choice

The use of trade shows,conventions,and conferences to contact customers:

• A) has been decreasing in recent years
• B) costs much less per potential customer than personal sales calls
• C) is most effective for mature products
• D) is usually directed toward the consumer goods market
• E) has a disadvantage in that it is usually impossible to display the product itself

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Definitions:

Midpoint Formula

A method used in economics to calculate the elasticity of demand or supply, measuring the relative response to changes in price or income, based on the average of initial and final values.

Quantity Effect

The change in the quantity demanded or supplied as a result of changes in price, holding all else constant.

Price Effect

The impact on consumer demand and supply of goods or services caused by a change in the price of those goods or services.

Perfectly Elastic

Describes a situation where the quantity demanded or supplied can change infinitely with any small change in price.