In the Purchase of a Product

question 20

Multiple Choice

In the purchase of a product. time. effort. risk. and opportunity costs are all examples of:

• A) nonmonetary costs.
• B) soft costs.
• C) intangible costs.
• D) experiential costs.
• E) monetary costs.

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Definitions:

Global Scale

Refers to the scope or extent of activities, operations, or phenomena that span across multiple countries and cultures, impacting or involving the global population.

Target Markets

Specific groups of potential customers that a business aims to reach with its products, services, and marketing efforts.

Marketing Actions

Initiatives or strategies implemented by a company to promote its products or services, aiming to achieve specific marketing objectives and enhance market presence.

Customer Needs

Refers to the wants or desires that consumers have which are central to their purchasing decisions.