Primary Demand Is a Desire for the ________ Rather Than

question 236

Multiple Choice

Primary demand is a desire for the ________ rather than for a ________; it is often the focus of marketing when there are few competitors with the same product.

• A) product class; specific brand
• B) problem solution; product category
• C) brand name; product category
• D) novelty; problem solution
• E) product concept; tangible product

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Definitions:

Good 1

Typically a term used in economics to represent a specific commodity or product in theoretical discussions.

Budget Constraint

A limit on the consumption choices of individuals or entities based on their income and the prices of goods and services, representing all possible combinations of goods and services that can be purchased.

Utility Function

A mathematical representation that ranks individuals' preferences over a set of goods and services to represent satisfaction levels.

Consumption Bundle

A combination of different goods and services that a consumer chooses to consume at a given time.