Briefly compare and contrast the concepts of needs, wants, and demand, giving an example of each. Discuss how these concepts relate to marketing practices
What will be an ideal response?
Human needs are necessities to meet urgent requirements. Unlike needs, wants are desires for things that are not necessities. For example, a person needs food but may want a Big Mac and a soft drink. Demand is a person's financial capacity to buy what he wants. A person who wants a Big Mac and a soft drink and has five dollars for lunch represents demand for that meal. Businesses use marketing to try to transform a want into a perceived need for the company's product or service. Businesses also use marketing to increase overall demand for their products and services.
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Under which circumstances does agenda-setting seem to really work?
A. when the news coverage is frequent and repetitive B. when audience members are passive recipients C. when the news coverage uses a dominant code D. when the audience has a need for orientation
A market segment is a subset of a larger market of people or organizations who will respond similarly to a marketing mix
Indicate whether the statement is true or false
Net revenue divided by average net fixed assets is the calculation for which of the following ratios?
A. Fixed asset turnover B. Return on assets C. Current ratio D. Net profit margin
Give an example to an external threat to a human services organization (one with which you are familiar) in a SWOT analysis.
What will be an ideal response?