Marketing - Study Mode
[#126] Institutional markets consist of people who buy products and services for personal use.
Correct Answer
(B) FALSE
Explanation
Solution: Institutional markets does not consist of people who buy products and services for personal use. It consists of the all the people who have some unsatisfied demand.
[#127] Convenience products usually have intensive distribution because sales of these products tend to have a direct relationship to availability.
Correct Answer
(A) TRUE
Explanation
Solution: Convenience products usually have intensive distribution because sales of these products tend to have a direct relationship to availability. A convenience product is a consumer product or service that customers normally buy frequently, immediately and without great comparison or buying effort.
[#128] Red Cross blood donations are considered to be specialty products and, therefore, have a specialty offer to the consumer.
Correct Answer
(B) FALSE
Explanation
Solution: Red Cross blood donations are not considered to be specialty products and, therefore, have a specialty offer to the consumer.
[#129] Which is a type of auction?
Correct Answer
(A) Open descending
Explanation
Solution: Open descending is a type of auction. An auction market is a market in which buyers indicate the highest price they are willing to pay and sellers indicate the lowest price they are willing to accept. A trade occurs when the buyer and seller agree on a price.
[#130] Research has shown that younger and higher income customers are more likely to use __________ channels.
Correct Answer
(A) self-service
Explanation
Solution: Research has shown that younger and higher income customers are more likely to use self-service channels. A powerful self-service channel, best used to provide quick information to customers like account balances, outstanding amounts, location, confirmations etc.