What is the most important factor in determining the elasticity of demand for a product in a given country quizlet?

What is the most important factor in determining the elasticity of demand for a product in a given country quizlet?

The most important determinant of the price elasticity of demand is usually the availability of substitutes for the product.

Which industry is often thought of as one in which global standardization of the marketing mix is the norm?

financial services

Which of the following is one of the important factors in determining the elasticity of demand for a product in a given country?

Many factors determine the demand elasticity for a product, including price levels, the type of product or service, income levels, and the availability of any potential substitutes. High-priced products often are highly elastic because, if prices fall, consumers are likely to buy at a lower price.

Which of the following is one of the four elements that constitute a firm’s marketing mix?

The 4Ps make up a typical marketing mix – Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements.

Which of the following is one of the four elements that constitute a firm’s marketing mix quizlet?

The four elements are often called 4 ‘Ps’ – price, product, promotion and place. the aspect or features of the product that differentiates it from its rivals. You just studied 9 terms!

Which element of the marketing mix is the only one that produces revenue?

Pricing

Is the only element in the marketing mix that produces revenue group of answer choices?

Price is the only element in the marketing mix that produces revenue. Pricing is the only revenue-generating element in the marketing mix (the other three elements are cost centres—that is, they add to a company’s cost).

Is an important element in the marketing mix it is the only element that does not represent cost?

Pricing is an important element of marketing mix. Every company should choose strategic choices when pricing the products to successfully achieve business objectives. Marketing Mix Pricing is the only element that generates revenue while the other three elements represent costs.

What are the three categories of pricing issues?

Issues that arise in the setting of prices can be divided into three categories: (1) the question of interactive versus fixed prices, (2) the pattern of an organization’s prices, and (3) how a price can be expressed when communicated to potential buyers.

What is the only element of the marketing mix that is not an expense?

2) Price is the only element in the marketing mix that produces ________. 3) ________ is an important element in the marketing mix. It is the only element that does not represent costs.

Why the term price and cost are used synonymously?

“The cost of producing a product has a direct impact on both the price of the product and the profit earned from its sale.” So cost is a measure of what the company or business spent to produce a product before it can be sold. Price, on the other hand, is what the customer is willing to pay for a product or service.

How much does it cost or how much it cost?

“How much does it cost?” is the correct one. “How much it cost?” is understandable, but incorrect – a (very) beginner would be expected to use this.

What is difference between cost price and value?

Price is what you pay for goods or services you acquire; Cost is the amount of inputs incurred in producing a product and Value is what goods or services pay you i.e. worth. Price and costs are the same for all the customers. Value varies from customer to customer.

What can I use instead of cost?

Synonyms of cost

• charge,
• disbursement,
• expenditure,
• expense,
• outgo,
• outlay.

How do you say we can save you money?

1. “cut the costs of …”
2. “reduce expenses on …”
3. “trim the fat from …”
4. “lower the payments on …”
5. “lessen the …”
6. “control the costs of “
7. “reduce interest rates on …”
8. “eliminate the waste in …”

What is the meaning of at the cost of?

: by giving up or hurting (something else) She completed the project on time but at the cost of her health.

What does maintain mean?

transitive verb. 1 : to keep in an existing state (as of repair, efficiency, or validity) : preserve from failure or decline maintain machinery. 2 : to sustain against opposition or danger : uphold and defend maintain a position. 3 : to continue or persevere in : carry on, keep up couldn’t maintain his composure.

Has been or had been?

“Had been” is used to mean that something happened in the past and has already ended. “Have been” and “has been” are used to mean that something began in the past and has lasted into the present time.

What is the difference between was and had?

“Had” is the simple past tense of the verb “have.” “Was” is the simple past tense of the verb “be.” Originally Answered: What is a simple difference between was and had? The simplest answer is: WAS is the past tense of “to be,” while HAD is the past tense of “to have.”

When to use was or had been?

“I was in Santiago in 2014, and I had been there before, in 2010.” Again, you’re just describing something that happened before something else in the past. Think of it as a sequence: a first action and a second action, but “had been” is for a past action that happened before “was.”

Was working Vs had been working?

“I was working on that soup all day! I HAVE BEEN working all day is past tense, or formal past. I WAS working the entire day is the same. I HAD BEEN working on that soup all that day, would also constitute a sufficient past tense way of interpreting the same as above, for example.

Was been is correct?

Originally Answered: Is it correct to use ‘was’ or ‘were been’ in the past tense? *“Were been” is always incorrect. Those two words are never used directly together side by side. “Was” is a simple past tense form of “to be,” used with all pronouns except “you.” (“You were…”)