In a monopolistic competition setting, how can a manufacturer differentiate a product?
What will be an ideal response?
Sellers attempt to differentiate their product or service so it is attractive to consumers. Product differentiation is the process of developing and promoting differences between one's products and all competitive products. For example, sellers provide unique product features, attention-getting brand or product names, unique and attractive packaging, and services such as free delivery or a lifetime warranty.
You might also like to view...
In many cases, retailers hold greater ________ than manufacturers, so manufacturers need to know retail buyers' acceptance criteria
A) channel power B) conditions of sale C) territorial rights D) motivation E) channel design
Consistency in accounting means that a company uses the same generally accepted accounting principles from one accounting period to the next accounting period
Indicate whether the statement is true or false
Through the data mining application of ________, marketers offer promotions to noncustomers who share demographic characteristics with current customers
A) customer retention B) customer loyalty C) customer acquisition D) customer abandonment E) market basket analysis
Sometimes the false subject is ______________________
a. necessary b. irrelevant c. not part of the core sentence d. not attached to the verb