Supply and demand play a huge part in the value of someting for a consumer. When there is a low supply of an item and the item is in high demand, the value you seems to go up for a consumer because they have to have it. The want for an item that may not always be there is what brings value to the consumer and in some cases, have them purchase the item just because of the chance of it running out. When there is a large supply of an item, the value may not be as much to a consumer because they think they can purchase the item whenever they want.
Answer:
The sample space for this experiment contains 1728 elementary events.
Explanation:
Set of aluminum castings = 12
Control inspector randomly selects castings with replacement = 3
so elementary events = 12 * 12 * 12
Elementary events = 1728
So there are more then 3, but I'm gonna slide a fourth one in..
1.<span>Princeton University
2.</span><span>Harvard University
3.</span><span>Yale University
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4.</span><span>Columbia University
These University's are the best in the US.
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Answer:
B. core benefit
Explanation:
A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks etc.
According to the economist Philip Kotler in his book titled "Marketing management" he stated that, there are five (5) levels of a product. This includes;
1. Core benefit.
2. Generic product.
3. Expected product.
4. Augmented product.
5. Potential product.
The core benefit of a product can be defined as the basic (fundamental) wants or needs that is being satisfied, met and taken care of when a customer purchase a product.
<em>Hence, the term that refers to the first level of a product, which depends on the customer value it generates is generally referred to as a core benefit. For example, a hotel provides a comfortable and convenient bed to spend the night (sleep) when you travel for a vacation. </em>