The complete question should be:
What is a major distinction between customers who purchase a product because they are brand loyal and those who purchase by inertia?
A) the cost of the product
B) the social risk of the product
C) whether the purchase is made after a compensatory or noncompensatory decision process
D) whether the customers hold a very positive or weak attitude toward the product
Answer: whether the customers hold a very positive or weak attitude toward the product
Explanation:
A consumer who buys a product based on inertia is a consumer who buys a product he/she isn't familiar with but is attracted to purchase, therefore no strong link between the consumer and product. While a consumer who purchases a product he/she is loyal to has a very strong connection to that product.
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Answer:
Ted is giving up an interest of 37.5 by pre-committing his money to a Christmas savings account
Explanation:
Step 1: Determine interest amount
The formula for calculating interest is as follows;
I=PRT
where;
I=interest
P=principal
R=annual interest rate
T=number of years
In our case;
P=750
R=10%=10/100=0.1
T=From June 1 to December 1=6 months=0.5 years
replacing;
I=(750×0.1×0.5)=$37.5
Step 2: Determine total amount Ted will have for the two scenarios
case 1
Christmas savings program=750
Ordinary savings account=(750+37.5)=787.5
Ted is giving up an interest of 37.5 by pre-committing his money to a Christmas savings account
Answer:
Recession
Explanation:
A period during which real GDP declines for two quarters in a row, or six consecutive months.
Answer:
The correct answer is: their total revenue will decrease if they lower the price.
Explanation:
A price elasticity equal to one means that sales go up (or down) by the same percentage as the price goes down (or goes up). In this case the total income will not be affected.
An elasticity greater than one means that sales (x) rise (or fall) in greater proportion than the price falls (or rises). In this case the total income goes up. An elasticity of less than one means that sales rise (or fall) in a smaller proportion to the percentage at which the receipt falls (or goes up). In this case the total income decreases. Therefore, to know the result or the effects of a price variation it is very important to know the elasticity.
When the company varies the price of a good, you should consider studying the possible effects of that variation on the demand of the other products of the company.
In summary, we can say that the price drop as a marketing strategy is only usable when the demand for the product is relatively elastic and the company does not compromise its profitability; while the company when it starts a price increase must know the possible responses of the competition, because if it is chosen, it knows that the market will respond especially if there is a leader who usually sets the guidelines when setting prices and conditions of sale, thereby facilitating stability to the sector.
