An External Search for Product Information Is Likely to Occur

question 184

Multiple Choice

An external search for product information is likely to occur when

• A) the cost of gathering information is low.
• B) review of past experience provides adequate information.
• C) the risk of making a wrong purchase decision is low.
• D) the item is frequently purchased.
• E) the item is for personal use rather than for professional use.

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Definitions:

Marketing Concept

A philosophy suggesting that achieving organizational goals depends on knowing the needs and wants of target markets and delivering desired satisfactions.

Market Orientation

A business approach that prioritizes identifying and meeting the needs and desires of customers through product innovation and customer satisfaction.

Customer Relationship

The interactions and bond between a business and its customers, focusing on long-term engagement and satisfaction.

Service Orientation

A business approach that prioritizes customer satisfaction and delivers quality service as a fundamental value and goal.