Asked by Maria Rosario Agnes on Sep 24, 2024

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By focusing the customers on the price of a product,you

A) ​Increase your chances of engaging in a price war with your competitors
B) Make the customers more price sensitive to the product
C) Make the demand for the product more elastic
D) ​All of the above

Price War

A competitive situation where rival companies continuously lower prices to undercut each other, aiming to increase market share.

Price Sensitive

A characteristic of consumers who are highly responsive to changes in prices, affecting their willingness to buy products or services.

  • Realize the impact of marketing communications on the suppleness of demand for products.
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Nurul Sajidah3 days ago
Final Answer :
D
Explanation :
By focusing on the price of a product, you create a price-oriented mindset in your customers which increases the chances of price wars with your competitors. It also makes customers more price-sensitive, so they will be more likely to look for cheaper alternatives. This, in turn, makes the demand for the product more elastic as customers are more likely to respond to changes in price. Therefore, all of the above options are correct.