Which of the Following Statements Best Distinguishes Between Consumer Needs

question 138

Multiple Choice

Which of the following statements best distinguishes between consumer needs and wants?

• A)Needs are far more influential than wants with respect to marketing decision making.
• B)Wants affect marketing decisions primarily for planned purchases while needs affect marketing decisions primarily for impulse purchases.
• C)Wants occur when a person feels deprived of basic necessities such as food, clothing, and shelter while needs are determined by a person's knowledge, culture, or personality.
• D)Needs and wants are psychologically the same, but needs are those that a consumer can be guaranteed to satisfy.
• E)Needs occur when a person feels deprived of basic necessities such as food, clothing, and shelter while wants are determined by a person's knowledge, culture, or personality.

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Definitions:

Intellectual Capital

The intangible value of an organization's knowledge, processes, and intellectual property, contributing to its competitive advantage.

Personal Asset

An item of value owned by an individual, including tangible and intangible items like property, stocks, or intellectual property.

Intellectual Capital Equation

A formula used to assess the intangible assets of an organization, such as knowledge, skills, and intellectual property, which contribute to its value.

Competency

One’s personal talents or job-related capabilities.