Marketers Must Know the Needs and Wants of Their Customers

question 14

Multiple Choice

Marketers must know the needs and wants of their customers. Which of the following presents the most accurate picture of the typical elderly consumer today?

• A) Most are old, infirm, depressed, stay-at-home people who live a hand-to-mouth existence.
• B) Most are active, interested in what life has to offer, and are enthusiastic consumers with the means and willingness to buy many goods and services.
• C) Most live with their children, have little savings, and have an increasingly difficult time adjusting to the changing technical world around them.
• D) Most have refused government support and are going through a hermitization process. They don't trust anyone under 60.

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Definitions:

Savings Accounts

Financial accounts at banks or other financial institutions that pay interest on deposits, allowing individuals to save money over time.

Maturity Dates

The specific dates on which financial instruments such as bonds or loans are due to be fully paid off.

Money Supply

The total quantity of currency and other liquid instruments circulating in an economy at a particular time.

Banking System

The network of institutions that provide financial services, including the management, distribution, and creation of money among individuals, businesses, and governments.