When Studying Consumer Needs, a Marketer Should

question 121

Multiple Choice

When studying consumer needs, a marketer should:

• A) know that a product may be a want or a need depending on what the consumer has learned during his/her life.
• B) try to understand how the marketing mix can satisfy a set of needs, rather than only one.
• C) realize that he or she cannot create needs, merely identify them.
• D) all of these alternatives are correct.

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Definitions:

Systematic Risk

The risk inherent to the entire market or market segment, indicating how fluctuations in the market can affect individual investments.

Risky Asset

An asset that carries a significant degree of risk of losing all or part of its value.

Total Risk

The complete spectrum of risks associated with an investment, including both systematic and unsystematic risks.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, widely used in statistics to quantify the uncertainty or risk.