ECO 254 Final exam

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What can marketers use to attempt to separate consumers based on identifying traits such as age or income?

Demographic segmentation

Which of the following is a good or service that is used to directly help produce products?

Production Items

Shopping Services are best defined as:

moderately expensive, infrequently purchased services

4 P's of Marketing

Product, Price, Place, Promotion

The level of e-commerce sales in the United States in the the year 2018 is likely to be around what level?

$400 Billion

Value

Benefits/Costs

Consumers with less brand loyalty are usually satisfied with a products performance over time.

False

Most ideas for new products eventually reach the market.

False

True or False? Emotional motives are reasons for purchasing a product that are based on nonobjective factors

True

True or False? The B2B market includes industrial, reseller, and government/institutional markets.

True

The relative comparison of a product's benefits versus its costs, is known as its

Value

A company decides to introduce a line of crackers made with organically grown grains and vegetables. What environmental trend is the company responding to?

Sociocultural

Why is speed to market critical to market demand?

It allows the company to become entrenched in the marketplace.

Which defining word or phrase below BEST captures the meaning of capital items?

Longer Lasting

Which pricing strategy's objective is to have products of similar types with various levels of quality priced accordingly?

Price Lining


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