Asked by Mohamed Bawazir on Jun 27, 2024
Verified
In a purely competitive industry competition centers more on advertising and sales promotion than on price.
Sales Promotion
A marketing strategy involving the use of short-term incentives to encourage the purchase or sale of a product or service.
- Analyze the effects of different market structures on organizational behavior and outcomes in the market.
Verified Answer
BY
basant yadavJun 30, 2024
Final Answer :
False
Explanation :
In a purely competitive industry, firms are price takers due to the homogeneous nature of the products, and competition typically centers on price rather than advertising and sales promotion.
Learning Objectives
- Analyze the effects of different market structures on organizational behavior and outcomes in the market.