To create market stability.
Yes, this encourages the buyer to pay more for an item especially if it is by a well known branded. This gives them to opportunity to brag and boast with their purchase. Also when the product is well known consumers are going to try their absolute best to buy it, this is going to make the product scare, hence increasing its price.
Answer: Big Tech companies thrive on consumer data.
Explanation: So you can limit there power by imposing
Answer:
A)A sports team t-shirt:(Rivalrous and Excludable)
B)The air we breath (Nonrivalrous and nonexcludable)
C)Atlantic Bluefin Tuna in the Mediterranean Sea:(Rivalrous and nonexcludable)
D)A toll road in normal traffic:(Nonrivalrous and excludable)
Explanation:
Excludable goods can be regarded as goods whereby there is possibility of preventing consumers that has not paid for that good from accessing it.
Rivalrous goods are types of goods that can only be occupied by a person
there is competition created for their consumption.
Non-excludable goods can be regarded as public goods they are one
which are commonly available within a society for all people. These goods cannot be excluded from certain person.
Non-rivalrous goods can be regarded as public goods whereby the supply of that goods is not affected by consumption of people.
Answer:
The correct answer is B: it increases their switching costs
Explanation:
Relationship marketing is about establishing a long-term bond with consumers. Instead of pursuing a one-time sale, relationship marketing tries to encourage customer loyalty by providing top of the notch products and services. Relationship marketing is usually not linked to a single product or offer. It involves a company perfecting their business to maximize the value of that relationship for the customer.
Relationship marketing principally requires the improvement of internal methods. The objective is to make the costumers experience to the fullest, meeting their expectations and creating a bond beyond the service itself. When you, as a company, achieve a level of uniqueness to the consumer, the cost of switching companies increases. It is more difficult to find a provider that fulfills your needs and desires.
