Economic needs refer to the buyer's need to behave in an economically rational manner and buy the lowest priced item available.
Answer the following statement true (T) or false (F)
False
Economic needs are the buyer's need to purchase the most satisfying product for the money. Economic needs include price, quality, convenience of buying, and service.
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Marketing researchers have struggled with growing consumer resentment to their invasion of privacy
Indicate whether the statement is true or false
Which term refers to the decisions and activities that are intended to create and maintain a certain product concept in the customer's mind?
A) feature dumping B) product positioning C) product configuration D) value clustering E) strategic marketing
Jones Retail
had the following balances and transactions during 2017: Beginning Inventory 20 units at $74 June 10 Purchased 35 units at $84 December 30 Sold 30 units December 31 Replacement cost $64 The company maintains its records of inventory on a perpetual basis using the first-in, first-out inventory costing method. Calculate the amount of ending Merchandise Inventory on December 31, 2017 using the lower-of-cost-or-market rule. A) $2,240 B) $1,600 C) $1,850 D) $1,480
A soft drink bottler incurred the following factory utility cost: $3636 for 650 cases bottled and $3724 for 900 cases bottled. Factory utility cost is a mixed cost containing both fixed and variable components. The variable factory utility cost per case bottled is closest to:
A. $0.35 B. $5.59 C. $4.14 D. $4.04