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Managerial Economics: A Problem Solving Approach
5th Edition
ISBN: 9781337106665
Author: Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher: Cengage Learning
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Question
Chapter 10, Problem 10.2IP
To determine
The effects of an effort to increase the value of a product.
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Students have asked these similar questions
Advertising and sales promotions are ways of persuading consumers to match demand with products offered by sellers. Advertising can be informative or competitive. Explain the good and bad of advertising for society!
If you do not have a large market for your product or service, what should you do to be sure it retains its value?
Make sure to scale your business and its cost to the size of your market.
Identify other products or services that you could include alongside the original in order to increase market size.
Consider ways to substantially change your product or service in order to increase your market size.
Shelve your idea; perhaps the market will increase in future.
Which item below represents a non-price strategy?
Multiple Choice
Sending thank you cards to your customers thanking them for their loyalty.
Improving the customer service.
All of the above.
Offering a one-year money back guarantee.
Chapter 10 Solutions
Managerial Economics: A Problem Solving Approach
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