Asked by Steven Walsh on May 10, 2024
Verified
A Swiss watch company advertises its history of superior craftsmanship.The company thinks that this will
A) Make the demand for the product more elastic
B) Make the customers more sensitive to the price
C) Not impact the demand for their product
D) None of the above
Superior Craftsmanship
refers to the high level of skill and quality in creating or repairing things, especially when the work is done with care and precision.
More Elastic
Describes a situation where the demand for a product or service is highly sensitive to changes in price or other factors, leading to significant variations in demand.
- Identify the implications of marketing on the elasticity of demand for commodities.
Verified Answer
AA
Anis Aqilah Nizam ShahMay 13, 2024
Final Answer :
C
Explanation :
Advertising the company's history of superior craftsmanship is more likely to create brand loyalty and increase customers' trust in the quality of the product, but it is unlikely to significantly impact the demand for the product or make customers more sensitive to the price. Therefore, the best choice is C.
Learning Objectives
- Identify the implications of marketing on the elasticity of demand for commodities.