Although There Are Many Differences Between Business Buying Behavior and Consumer

question 26

Multiple Choice

Although there are many differences between business buying behavior and consumer buying behavior,both respond to the same four stimuli: product,price,promotion,and ________.

• A) precision
• B) personal relationships
• C) place
• D) publicity
• E) packaging

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Definitions:

Price

The sum of money needed to buy a product or service.

Competitive Price-Taker

A firm in a competitive market that has no ability to influence the price of the product it sells; it must take the market price as given.

Marginal Cost

The additional cost incurred by producing one more unit of a good or service.

Total Cost

The sum of all costs incurred in producing a good or service, including both fixed and variable costs.