Asked by Bertrand Veronique on Apr 28, 2024
Verified
Your text notes that technology has helped to shift the balance of power from companies to customers. Which statement exemplifies this concept?
A) The Internet allows companies to advertise on more than one platform.
B) Companies can use social networking sites to help them better target their audiences.
C) The Internet has made it possible for customers to comparison shop for products.
D) Data gathered at the point-of-sale can be used by companies to target customers for new products.
E) Automated production systems lead to more efficient and cost-effective manufacturing processes.
Pricing Transparency
The practice of openly and clearly disclosing the price of goods or services, including any potential fees or charges, to consumers.
Comparison Shop
The act of evaluating similar products or services from different suppliers to determine the best combination of quality, price, and service.
- Gain insight into how consumer actions are influenced by product pricing and the employment of digital platforms for price comparison.
Verified Answer
AM
Alexa MudroMay 04, 2024
Final Answer :
C
Explanation :
The Internet enabling customers to comparison shop for products exemplifies the shift of power to customers by providing them with more information and choices, thereby increasing their bargaining power and influence over the market.
Learning Objectives
- Gain insight into how consumer actions are influenced by product pricing and the employment of digital platforms for price comparison.