Marketers Cannot Assume That a Product That Meets Consumer Needs

question 77

Multiple Choice

Marketers cannot assume that a product that meets consumer needs in one country will do so in another. This is because:

• A) some people do not have physiological or safety needs.
• B) many needs are culturally learned.
• C) economic needs do not influence purchases in many regions of the world
• D) the purchase situations may be different.
• E) family life cycles may be different.

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Definitions:

Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the total quantity of output produced.

Average Fixed Cost

The fixed cost per unit produced, calculated by dividing total fixed costs by the quantity of output produced.

Marginal Cost

The charge for generating one more unit of a good or service.

Total Variable Cost

Total variable cost is the sum of all costs that vary directly with the level of production or output, such as materials and labor.