A Marketing Manager Who Wants to Apply the "Hierarchy of Needs

question 302

Multiple Choice

A marketing manager who wants to apply the "hierarchy of needs" model should keep in mind that:

• A) most consumers are already satisfied and promotion will be needed to "create a need."
• B) the same marketing mix might satisfy two or more levels of need.
• C) not enough attention is focused on physiological needs.
• D) "social needs" focus on the psychological variables in consumer behavior.
• E) None of these alternatives is correct.

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Definitions:

Relevant Range

The span of activity or volume over which the specific assumptions of cost behavior hold true, often considered in budgeting and decision-making.

Mixed Costs

Expenses that contain both fixed and variable components, changing in total with the level of activity but not directly proportional.

Contribution Format

An income statement format that separates fixed costs from variable costs, showing the contribution margin of sales over variable costs.

External Reporting

The process of preparing and presenting financial and other information to parties outside the organization.