Consumer Product Classes

question 282

Multiple Choice

Consumer product classes

• A) are based on how the product will be used.
• B) are based primarily on how much effort is actually involved in making a purchase.
• C) suggest the type of marketing mix that should be used, but business product classes have little to do with the marketing mix that should be used.
• D) are based on how consumers think about and shop for products.
• E) None of the above is true.

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Definitions:

Demand Curve

A graphical representation showing how the quantity demanded of a commodity changes with changes in its price, typically depicting an inverse relationship.

Budget Line

A graphical representation showing the combination of goods a consumer can purchase with a given income.

Money Income

The total amount of monetary earnings received by an individual or household in a specific period, including wages, salaries, and other forms of income.

Indifference Curve

A graph showing different bundles of goods between which a consumer is indifferent, helping to illustrate preferences and the concept of utility.