Identify and describe the four major types of utility. Which one is influenced indirectly by marketing efforts?
What will be an ideal response?
Form utility is created by converting production inputs into finished products. Place utility is created by making a product available at a location desired by customers. Time utility is created by making a product available when customers wish to purchase it. Possession utility is created by transferring title, or ownership, of a product to a buyer. Marketing efforts may influence form utility indirectly because the data gathered as part of marketing research are frequently used to determine the size, shape, and features of a product.
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According to Maslow, as countries progress through the stages of economic development, more and more members of society operate at the esteem need level and higher
Indicate whether the statement is true or false
What type of promotional effort would a marketer likely use for a product in the decline phase?
What will be an ideal response?
The more debt a company uses to finance its assets, the lower will be its operating income due to
higher interest expense. Indicate whether the statement is true or false
Raw materials, buildings, and machinery are ____ resources.
A. human B. financial C. informational D. labor E. material