Marketing Seeks to Discover the Needs and Wants of Prospective

question 50

Multiple Choice

Marketing seeks to discover the needs and wants of prospective customers and satisfy them. Essential to this process is the idea of exchange, which refers to

• A)the trade of things of value between buyer and seller so that each is better off after the trade.
• B)the negotiation phase between the manufacturer and the seller.
• C)the financial remuneration (monetary payment) for a product or service.
• D)the transport of tangible goods to new owners.
• E)the practice of swapping products and services for other products and services rather than for money.

---

Definitions:

Military Victory

The achievement of the planned objectives and the establishment of control over the enemy's resources by military force.

George Washington

The first President of the United States, a Founding Father, and a key leader during the American Revolutionary War.

Comte de Vergennes

A prominent French statesman and diplomat who served as the Foreign Minister under King Louis XVI, playing a key role in supporting the American colonies during the Revolutionary War against Britain.

Social Status

The position or rank of a person or group within the societal hierarchy, often determined by wealth, occupation, education, or family lineage.