As More Competitors Launch Their Own Products and the Product

question 294

Multiple Choice

As more competitors launch their own products and the product progresses along its life cycle,company attention is focused on creating ________ demand,or the preference for a specific brand.

• A)primary
• B)selective
• C)derived
• D)generic
• E)secondary

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Definitions:

Fair Market Value

The price at which property would sell for on the open market between a willing buyer and a willing seller, both having reasonable knowledge of the relevant facts.

Valid Consideration

An essential element in the formation of a contract, referring to something of value (such as goods, services, or money) exchanged by the parties that induces them to enter into the agreement.

Illusory Consideration

An apparent promise or agreement that lacks a real commitment and therefore does not form a binding contract.

Adequacy of Consideration

An evaluation of whether something of legally sufficient value has been given in exchange for a promise or action, as part of a contract.