Marketing - Study Mode
[#461] The consumer’s estimate of the product’s overall capacity to satisfy his or her needs is called:
Correct Answer
(B) Product Value
Explanation
Solution: The consumer’s estimate of the product’s overall capacity to satisfy his or her needs is called Product Value. Product value is the benefit that a customer gets by using a product to satisfy her needs minus associated costs.
[#462] Consider the following statements. 1. The stage of industry's development (life cycle) cannot influence the nature of competitive rivalry. 2. As the industry starts to mature in terms of life cycle, rules are rejected, consumer expectations about quality and performance are blurred and industry standards are put for modification. 3. A major feature of maturing industries is the tendency for competition based on product pricing becoming similar. 4. In declining industries, only the most efficient firms can earn reasonable profits. In the light of industry life cycle. Which of the above statements are true?
Correct Answer
(A) Both 3 and 4
[#463] Which of the following is the discounts by a manufacturer to the members of channel, in case they perform certain functions such as selling, storing and record keeping?
Correct Answer
(A) Trade allowance
[#464] What is the use of the Internet in Marketing?
Correct Answer
(D) All of the above
[#465] Which of the following is incorrect about retailers?
Correct Answer
(B) They offer only pre-sales services