Multiple Choice
The Following Questions are linked to this scenario: A fuel-oil retailer has researched the demand patterns for fuel oil in its market area.
-A preliminary study of demand revealed that 30 percent of the buyers are concerned primarily with price and would quickly switch vendors if offered a cost savings of at least 15 percent over their current cost. In contrast, 70 percent were more concerned with service. Important services, in order of importance, are emergency repair, low-cost heating system warranties, credit, and an annual heating system check-up. What demand pattern for fuel oil exists?
A) Diffused demand
B) Derived demand
C) Homogeneous demand
D) Clustered demand
Correct Answer:
Verified
Correct Answer:
Verified
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