How does utility affect demand for a product?
What will be an ideal response?
The more utility a product is perceived to have, the greater the demand for that product will be.
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Jeff is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeff has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeff still need to work on?
A. price B. planning C. promotion D. place E. product
Negative confirmations are considered to be more persuasive than positive confirmations
a. True b. False Indicate whether the statement is true or false
Investment clubs generally offer the possibility of diversification
Indicate whether the statement is true or false.
Answer the following statement(s) true (T) or false (F)
1. Psychographic segmentation divides the market according to aspects of the product use, including volume and brand loyalty. 2. The marketing mix is composed of product, price, distribution, and promotion. 3. A firm must first determine the target market and then develop an appropriate marketing mix. 4. Economic conditions, competition, and technology are the only essential elements in the marketing environment. 5. The process of purchasing an expensive sports car involves extensive decision making.