In a sales letter promoting its new hybrid vehicle, a car company included this sentence: Our new hybrid model will save you hundreds of dollars annually on gasoline expenses. The company is focusing on indirect benefits of purchasing this vehicle
Indicate whether the statement is true or false
False
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Suppose the only good traded between Mexico, the U.S., and Brazil is beef, which is produced by all three countries. If the cost of producing a pound of beef is 5 pesos in Mexico, 2 dollars in the U.S., and 1 real in Brazil, the exchange rates based on the law of one price would be ____ pesos per dollar and ____ dollars per real.
A. 2.5; 2 B. 2.5; 0.5 C. 0.4; 0.5 D. 0.4; 2
Do you think marketing can influence choices? Explain your answer
What will be an ideal response?
Marketers at Johnny Inc believe in putting their customers ahead of everything else. Their products are carefully designed to meet customer requirements and the entire focus is on achieving customer satisfaction
Johnny Inc follows the ________ concept in doing business. A) production B) product C) selling D) marketing E) social responsibility
Which of the following statements about misrepresentation is most likely true?
A. Even if the salesperson misrepresentation statement is made innocently, many courts will award damages to the customer. B. When salespeople loosely describe their product or service in glowing terms, those statements can be relied upon by the potential buyer. C. Generally, the more knowledgeable the customer, the greater the chances the court will interpret an incorrect statement by a salesperson as an actionable misrepresentation. D. When a salesperson makes claims of a "factual nature" regarding a service's inherent capabilities, the law does not treat these comments as statements of fact and warranties. E. A salesperson's opinion about the quality of the product being sold is known as sales puffery and is legally actionable.