A Key to Successful Marketing Is Determining How to Meet

question 18

Multiple Choice

A key to successful marketing is determining how to meet the correct balance of ________ needs that best appeals to the firm's target markets.

• A)functional and social
• B)postpurchase and prepurchase
• C)safety and situational
• D)psychological and physiological
• E)functional and psychological

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Definitions:

Limited Resources

Refers to the finite availability of goods and inputs, such as labor, raw materials, and capital, which are used to produce economic outputs.

Unlimited Wants

The economic concept that humans have insatiable desires for goods and services, which exceeds the resources available to satisfy them.

Individuals

Single human beings, considered separately from society or as distinct entities with personal interests and responsibilities.

Fallacy of Composition

The error of assuming that what is true of a part is necessarily true of the whole.