According to the Service Continuum Shown in Figure 12-3 Above,what

question 55

Multiple Choice

According to the service continuum shown in Figure 12-3 above,what does "A" represent?

• A)product-dominated offerings
• B)people-dominated offerings
• C)service-dominated offerings
• D)equipment-dominated offerings
• E)idea-dominated offerings

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Definitions:

Substitutes Available

Products or services that can be used in place of one another, providing consumers with choices in the marketplace.

Elastic

Describes a situation in which the quantity demanded or supplied changes significantly in response to a change in price.

Demand

The desire of consumers, backed by the ability and readiness to purchase, for specific goods or services at a given time.

Downward-Sloping

A graphical representation indicating a decrease or decline in value or quantity when plotted against another variable, often used in economics to describe demand curves.