Marketing Seeks to Discover the Needs and Wants of Prospective

question 175

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 bartering of products and services for other products and services.
• E) the practice of swapping products and services for other products and services rather than for money.

---

Definitions:

Sunset

The time in the evening when the sun disappears below the horizon.

Leibniz

A German polymath and philosopher best known for his contributions to metaphysics, mathematics, and the development of the calculus independently of Isaac Newton.

Locke

An English philosopher and physician, widely regarded as one of the most influential of Enlightenment thinkers, particularly known for his theories of mind and personal identity.

Senses

Physiological capacities of organisms that provide data for perception, such as sight, hearing, smell, taste, and touch.