Answer:
D. estimate price elasticity of demand by experimenting with different prices.
Explanation:
Price elasticity of demand is an economic concept which is a measure of the sensitivity of customers willingness to buy something to its price. If the customers readily change their buying behavior with a change in price of the product, it would mean that the demand for the product is elastic.
When firms are introducing new products, they generally determine the best selling price by experimenting with different prices and observing the buying behavior of customers. Then the choose the price which produces the maximum amount of revenue for the firm, which entails the price of the product and number of units sold.
Answer:
if I had to take a guess my answer would be 50%
Answer: Ordinal scale.
Explanation:Ordinal scale is the level of measurement that gives the ranking of data without showing the degree of variation between them. It helps in identifying if object has more or less characteristic when compared to another object but does not tell the exact weight of the characteristic. Data in Ordinal scale is usually given in order of magnitude since there is no standard of measurement of differences. For example 1=most willing to 5=least willing.
So many people's expectations of good customer service are the same but we must still treat each customer as an individual.
<h3>What is a good customer service?</h3>
Also known as an excellent customer service refers to the act of meeting and surpassing expectations of customers, that is, the seller or the firm is showing the customer how important he or she is to you and the business survival and existence.
Furthermore, it involves following best practices like valuing customers' time, having a pleasant attitude, and providing knowledgeable to the customers as well.
Hence, in most case, despite that many people's expectations of good customer service are the same but we must still treat each customer as an individual.
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