Marketing Seeks to Discover the Needs and Wants of Prospective

question 50

Multiple Choice

Marketing seeks to discover the needs and wants of prospective customers and satisfy them. Essential to this process is the idea of exchange, which refers to

• A)the trade of things of value between buyer and seller so that each is better off after the trade.
• B)the negotiation phase between the manufacturer and the seller.
• C)the financial remuneration (monetary payment) for a product or service.
• D)the transport of tangible goods to new owners.
• E)the practice of swapping products and services for other products and services rather than for money.

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Definitions:

Consumption Community

A group of people who share similar consumption habits or preferences, often forming social bonds and community identities around particular brands or products.

Lurker

An individual who observes or reads discussions on online platforms or forums without actively participating or contributing.

Soccer Enthusiasts

Individuals who show a strong interest or passion towards soccer, either as spectators, players, or followers of the sport.

Participation Level

The degree or extent to which an individual or group engages in a particular activity or process.