MM ✨quiz✨

________ are basic human requirements, while ________ are the ways in which those requirements are satisfied.

• Wants; needs

• Demands; wants

• Needs; wants

• Needs; demands

• Demands; needs

When Frank buys his own house, he would like to have a home theater system and a jacuzzi. He plans to save enough money in the next three years so that he can fulfill his wish. Frank's desire for the home theater and the jacuzzi is an example of a(n) ________.

• need

• want

• demand

• unstated need

• latent demand

Car rental firms, hair dressers, and management consultants provide ________.

• goods

• experiences

• events

• services

• information

Soccer's World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) ________.

• idea

• place

• luxury item

• event

• service

People in emerging countries today are becoming increasingly health conscious and are seeking healthy food choices. As a result, demand for health foods is rising steadily, creating an opportunity for marketers to exploit this ________ market.

• demographic

• business

• need

• geographic

• service

When companies measure the number of people who are willing and able to buy their products, they are measuring ________.

• demand

• price elasticity

• real needs

• standard of living

• disposable income

The identification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes is known as ________.

• segmentation

• integration

• disintermediation

• cross-selling

• customization

During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called ________ markets.

• target

• capital

• tertiary

• demographic

• developing

________ reflects a customer's judgment of a product's performance in relation to his or her expectations.

• Brand equity

• Satisfaction

• Value

• Perception

• Brand image

When Volvo runs ads suggesting that its cars are the safest that money can buy, it is trying to ________.

• segment the market

• provide a service

• enter a new market

• develop brand loyalty

• position its product