Changing Any Component of the Marketing Mix to Better Meet

question 87

Multiple Choice

Changing any component of the marketing mix to better meet the needs of a local market is known as which of the following?

• A) Adaptation
• B) Standardization
• C) Global marketing
• D) Individualized marketing
• E) Regional marketing

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Definitions:

Individualism

Term that entered the language in the 1820s to describe the increasing emphasis on the pursuit of personal advancement and private fulfillment free of outside interference.

Suburban Middle Class

A social class that became prominent in the mid-20th century, characterized by families living in suburban neighborhoods with a moderate to high income.

Subsidies

Financial support provided by the government to decrease the cost of goods and services for producers or consumers.

Mortgages

Loans specifically designed for the purchase of real estate, where the property itself serves as security against the loan until it is fully repaid.