A promise that neither confers any benefit on the promisee nor subjects the promisor to any detriment is an illusory promise
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is not an indicator that a promise is separately identifiable within a contract?
A) lack of integration with other promised goods or services. B) does not modify another good or service. C) is not dependent on other goods or services. D) lack of commercial substance like other goods or services.
________ is the assignment of a product's value, or the amount the consumer must exchange to receive the offering
A) Promotion B) Price C) Benefit D) Need E) Utility
________ are the per-unit costs of production that will fluctuate depending on how many units or individual products a firm produces
A) Fixed costs B) Variable costs C) Average fixed costs D) Marginal costs E) Everyday costs
Steve wants to gift a box of chocolates to his best friend. He walks into a store and buys Belgian chocolates because his friend once mentioned that they are the best in the world. This is an example of how consumers respond to ________.
A. price B. fitting the product to the culture C. quality D. brand strategy E. country-of-origin effect