For each of the following pairs of firms, explain which firm would be more likely to...

For each of the following pairs of firms, explain which firm would be more likely to engage in advertising.

a. a family-owned farm or a family-owned restaurant

b. a manufacturer of forklifts or a manufacturer of cars

c. a company that invented a very comfortable razor or a company that invented a less comfortable razor

Expert Solution

a. a family-owned restaurant - a restaurant needs customers on a daily basis, whereas a farm usually needs to have ties with sellers who sell their product to the supermarkets.

b. a manufacturer of cars - cars are used commonly by the masses, so advertising would increase the sales exponentially. For forklifts, it's not used commonly, and caters to the construction sector and hence, a word of mouth would be enough.

c. a company that invented a very comfortable razor - they'll have some reality to their adverisements, and would sell their razors around the 'comfortable factor' as the USP.

Rahul Sunny answered 2 years ago

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For each of the following pairs of firms, explain which firm would be more likely to...

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