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Q Question 1 Demand for a product is said to be inelastic when ______. Question 2 Pricing strategies that are based on the marketing concept and the value equation are called: Question 3 Walmart is a multibillion-dollar retail company that is a buyer from several consumer goods manufacturers. Many of its suppliers have moved to Bentonville, Arkansas, the Walmart headquarters. Why do you think suppliers have moved so close to the Walmart headquarters? Question 4 What determines how many intermediaries a firm should include in its marketing channel system? Question 5 What value do marketing channels bring to the customer?

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1.an increase in price will cause demand to go up or stay the same. 2.customer-focused pricing 3.to be around many of the suppliers to Walmart for greater cooperation and training 4.The number of intermediaries depends on which channel partners can perform channel functions better or more efficiently than the company. 5.Marketing channels ensure customers get what, when, and where they want their goods and services

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