The Purpose of Studying Consumer Behavior Is to Enable Marketers

question 20

Multiple Choice

The purpose of studying consumer behavior is to enable marketers to anticipate how they might better meet consumer needs by ________.

• A) improving profit margins
• B) consistently beating competitors' prices
• C) offering consumers more suitable products and marketing messages
• D) convincing consumers that they need the products the company can produce
• E) pushing consumers to purchase products that they need but are reluctant to buy

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Definitions:

Inventory

The total amount of goods and materials held by a company for the purpose of resale or manufacturing.

Gross Profit

The difference between revenue and the cost of goods sold, indicating the efficiency of core operations.

Sales

The total revenue earned by a company from selling goods or services over a specific period of time.

Net Income

A company's financial gain following the deduction of all expenses and taxes from its earnings.