In Consumer Behaviour, the Concept Behind a Product's Market Position

question 53

Multiple Choice

In consumer behaviour, the concept behind a product's market position implies that:

• A) the evaluation of a product is based on what it means to a person rather than what it does.
• B) the evaluation of a product is based on what it does for a person rather than what it means.
• C) the top-selling brand in a product category always has a stronger market position.
• D) price is the most important "P" to consider when formulating a marketing strategy.

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Definitions:

Installment Method

An accounting technique for recognizing revenue and expenses from sales made on credit in proportion to the payments received, rather than at the time of sale.

Deferred Gross Profit

Profit from sales transactions not yet recognized in the income statement, typically because the revenue recognition criteria have not been fully met.

Installment Receivables

Money owed to a company from its customers who have purchased goods or services on a payment plan over a set period of time.

Realized Gross Profit

The total earnings a company makes after deducting the direct costs associated with producing its goods or services.