For business products, the concept of inelasticity of demand applies equally to industry demand for the product and to demand for an individual supplier.
Indicate whether the statement is true or false
Question 2
As the number of firms utilizing direct marketing continues to grow, so too does the number of consumers opposed to the methods often described as intrusive.. To combat the growing number of opposed consumers, marketers need to find creative new ways to optimize their direct marketing campaigns. One outlet firms are beginning to experiment with is social media. Executives understand that many consumers view a company's Facebook page more often than the company's home page, so they've grown to realize that setting up some form of an email opt-in on social media sites is a great way to build marketing databases. In addition to opt-in sections, social media allows businesses to interact with consumers, which may make them less inclined to respond negatively to a company's direct marketing efforts. By utilizing social media more often in the future, a number U.S. companies hope to build stronger and more useful marketing databases. Which of the following is often referred to as the most controversial of the various direct marketing methods?
a. social media interaction
b. direct mail
c. bulk email
d. repetitive telemarketing
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Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ...