In Most Cases, Demand for Products or Services Can Be

question 17

Multiple Choice

In most cases, demand for products or services can be broken into several components. Which of the following is considered a component of demand?

• A) Cyclical elements
• B) Future demand
• C) Past demand
• D) Inconsistent demand
• E) Level demand

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Definitions:

Stimulus-Response Model

A concept in psychology and marketing that suggests a direct link between an external stimulus and a predictable response from an organism or individual.

Buyer Behavior

The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts these processes have on the consumer and society.

Organizational Buying Process

The decision-making route that businesses follow to acquire products or services, from recognizing the need to final purchase.

Unconscious Level

The Unconscious Level refers to mental processes that occur automatically and are not available to introspection, influencing thoughts, feelings, and behaviors without our awareness.