The "Universal Functions of Marketing

question 238

Multiple Choice

The "universal functions of marketing":

• A) are usually performed in the same way and by the same types of institutions in all MACRO-marketing systems.
• B) can sometimes be eliminated--in very efficient macro-marketing systems.
• C) must be performed in both market-directed and command economies.
• D) must all be performed by every firm from a MICRO view.
• E) All of the above are true.

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Definitions:

Conformity

Changing or adopting a behavior or an attitude in an effort to be consistent with the social norms of a group or the expectations of other people.

Compliance

Acting in accordance with the direct requests of other people.

Obedience

Behaving in accordance with the rules and commands of those in authority.

Halo Effect

A cognitive bias where the perception of a particular trait is influenced by the perception of former traits in a sequence of interpretations.