In 2014, the Portion of the U

question 63

Multiple Choice

In 2014, the portion of the U.S. population that lived in poverty was

• A) about 1 percent.
• B) about 5 percent.
• C) about 15 percent.
• D) about 25 percent.

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Definitions:

Market Penetration

The extent to which a product or service is recognized and purchased by customers in a particular market.

Marketing Mix

The strategic set of actions that a company uses to promote its brand or product in the market, involving variations of product, price, promotion, and place strategies.

Marketplace

Any venue, physical or digital, where goods, services, or information are exchanged between buyers and sellers.

Consumer's Needs

The fundamental requirements that customers seek to satisfy when they purchase goods or services.