Defining a Business in Terms of Goods and Services Rather

question 111

Multiple Choice

Defining a business in terms of goods and services rather than in terms of the benefits customers seek is called _____.

• A)marketing myopia
• B)marketing inertia
• C)marketing dissonance
• D)marketing blockage

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Definitions:

Magnuson-Moss Act

A federal statute enacted to protect consumers from deceptive warranty practices, providing guidelines for product warranties.

Full Warranty

A comprehensive guarantee that covers the repair or replacement of defective products or parts with minimal conditions for a specified period.

Limited Warranty

A warranty with specific conditions and limitations on what is covered, the duration of coverage, and what will be done to correct issues.

Implied Warranty

A legal assurance inherent in a transaction that the goods or services sold meet certain quality standards, even if not explicitly stated.