Consumers Often Have Many Needs That Are Not Readily Obvious

question 24

Essay

Consumers often have many needs that are not readily obvious. Just observing their behaviour inside a retail store is not enough to get a true feel for their "needs." List and briefly supply and example for each of the five types of needs that most consumers have.

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Definitions:

Finished Goods

Goods that are finalized in the production process and available for purchase by customers.

Bill of Lading

A legal document issued by a carrier to a shipper, detailing the type, quantity, and destination of goods being carried.

Factory Payroll

Refers to the total amount of wages and salaries paid to employees working in a manufacturing or production facility.

Direct Labor

The wages of employees who are directly involved in the production of goods or services.