Which Statement Best Distinguishes Between Consumer Needs and Wants

question 160

Multiple Choice

Which statement best distinguishes between consumer needs and wants?

• A) Needs are far more influential than wants with respect to marketing decision making.
• B) Wants affect marketing decisions primarily for planned purchases while needs affect marketing decisions primarily for impulse purchases.
• C) Wants occur when a person feels deprived of luxury items while needs are solely possessions required to maintain relationships.
• D) Needs and wants are psychologically the same, but needs are those that a consumer can be guaranteed to satisfy.
• E) Needs occur when a person feels deprived of basic necessities such as food, clothing, and shelter while wants are determined by a person's knowledge, culture, or personality.

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Definitions:

Employee Involvement

The degree to which employees are encouraged to share their ideas and suggestions, potentially contributing to improved decision-making and productivity.

Indirect Manufacturing Functions

Activities necessary for production that do not directly involve the transformation of materials into finished products, such as maintenance and supervision.

Lean Accounting System

An approach to accounting that focuses on reducing waste, improving efficiency, and providing value to customers.

Transactions

Business events that have a monetary impact on the financial statements of an organization.