Marketing Unit 1 review

Segmenting based on income would be an example of this segmentation variable.

Which of the following products would be considered the MOST price elastic?

What term is used to describe the ability of a good or service to satisfy a want?

This explains why sales of some products change more/less than others after a price change.

The private sector answers the economic questions in every industry in this type of economy.

Which of the following segmentation variables uses AIO inventories?

Which direction does the demand curve slope from left to right?

Which of the following segmentation variables may focus on usage rate of a computer?

In marketing, what does AIO stand for?

According to this theory, the satisfaction a good provides decreases as units are consumed.

Which of the following most likely would NOT result in a change in demand of a product?

The concept that resources are limited, which creates value.

What happens to price when there is a surplus of a product?

Which of the following is NOT a segmentation variable commonly used by marketers?

Which of the following products' demand would be least affected by a change in consumer income?

Segmenting based on climate would be an example of this type of segmentation variable.

Which of the following is NOT one of the four basic economic questions?

Of the following examples, which pair would be considered substitutes of each other?

This marketing strategy assumes that there is not a specific market for the product being sold.

Which of the following correctly lists the market matching strategy?