Commerce Questions and Answers

When a contract is entered into without the free consent of the party, it is considered a voidable contract. 

Voidable contracts are those that have been entered to by trick or coercion, or entered into with a minor, or entered into where one party was temporarily impaired (e.g., drunk).

Public relations is the professional maintenance of a favourable public image by a company or other organization.  It is done to create a good name and impression for about a brand.

Trademark is a symbol, word, or words legally registered or established by use as representing a company or product.

product line pricing, is a marketing process wherein products or services within a specific group are set at different price points.

Wherever quality is a variable, product line pricing can be effective. Clothing is a great example: an outlet is likely to have product lines based on the material and tailoring quality of different items of clothing.

Marketing is “the process of identifying, anticipating (predicting) and satisfying customer needs profitably”. Hence marketing concepts are set to identify consumer needs and satisfy them accordingly.