Two Basic Factors Account for the Market Similarities Among Industrial

question 43

Multiple Choice

Two basic factors account for the market similarities among industrial goods customers. One factor is the motive or intent of industrial customers is the same. The other factor accounting for the similarity among industrial goods customers is:

• A) the inherent nature of the product.
• B) the customer is seeking satisfaction.
• C) the government influence over design specifications.
• D) the tie to services.
• E) the perishability of the product.

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Definitions:

Algorithm

A step-by-step procedure or formula for solving a problem.

Sunk Cost Effect

The phenomenon where a person is more likely to continue an endeavor once an investment in money, effort, or time has been made.

Spearman's "G" Factor

The concept proposed by Charles Spearman that suggests a single, general intelligence factor underlies all cognitive abilities.

Intelligence

The ability to learn from experience, adapt to new situations, understand and handle abstract concepts, and use knowledge to manipulate one's environment.