In the Context of Values

question 21

Multiple Choice

In the context of values:

• A) terminal values are the "hows" of goal setting.
• B) instrumental values are the "whats."
• C) tangible values are the standards of behavior by which we achieve desired ends.
• D) intangible values can be defined differently for each person.

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Definitions:

Satisfying Customer Wants

The process of identifying and fulfilling the needs, desires, or preferences of customers through products or services.

Product Innovation

The development of new or significantly improved goods or services to meet consumer needs or open new markets.

Four Ps

A marketing model that identifies and optimizes the four key elements of marketing: Product, Price, Place, and Promotion.

Planning

The process of setting objectives, outlining strategies, and developing actions to achieve goals.