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:

Understated

A term used to describe financial statements or figures that are reported to be less than the actual amounts.

Current Period

Refers to the specific duration of time (usually a fiscal quarter or year) currently under consideration or analysis.

Net Realizable Value

The projected sales price of products subtracted by the expense of selling or disposing of them.