Marketers Cannot Assume That a Product That Meets Consumer Needs

question 77

Multiple Choice

Marketers cannot assume that a product that meets consumer needs in one country will do so in another. This is because:

• A) some people do not have physiological or safety needs.
• B) many needs are culturally learned.
• C) economic needs do not influence purchases in many regions of the world
• D) the purchase situations may be different.
• E) family life cycles may be different.

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Definitions:

Historical Rate

The exchange rate at which a foreign currency transaction was valued on the transaction date, used for converting transactions denominated in foreign currencies.

Functional Currency

The primary currency of the principal economic environment in which an entity operates, usually used in preparing financial statements.

Acquisition Consideration

The total value transferred by an acquirer to obtain control of an acquiree, which can include cash, shares, or other assets.

Unrecorded Patent

An unrecorded patent refers to a patent that has been granted but has not been accounted for or reflected in the financial statements of a company.