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How can repeat purchase of a relatively new product be achieved?
a) Invest in new technology
b) Provide free samples to encourage trail
c) Increase the marketing communication budget
d) Develop a quality product that satisfies customers
Microeconomics, Economics
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Question: Assume that US imports have an income elasticity of 1.3 and a price elasticity of -0.5, and US exports have an income elasticity of 1.2 and a price elasticity of -0.7. They also have a ‘‘repercussion elasticity ...
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