THE MARKETING TERM WHICH REGARDS THE CONSUMER AS KING THAT MUST BE SATISFIED IS
A. market segmentation B. market research C. marketing concept ✓ D. marketing mix The answer to the question is: C. marketing concept The marketing term that regards the consumer as king and must be satisfied is the “marketing concept.” The marketing concept is a…
A CONSUMER OF A SINGLE COMMODITY IS IN EQUILIBRIUM WHEN
A. his marginal utility is equal to zero B. he can equate his demand with price C. he equates marginal utility and price ✓ D. he can equate his marginal and total utilities The answer to the question is: C. he equates marginal…
THE CONSUMER DECISION MAKING PROCESS
A) PROBLEM RECOGNITION Figure shows that the first stage in the consumer decision-making process is problem recognition, which occurs when the consumer perceives a need and becomes motivated to solve the problem. The problem recognition stage initiates the subsequent decision…
CONSUMER PROTECTION
A consumer is an individual who makes the final use of goods and services provided by a firm. Therefore, consumer protection can be defined as the various ways and methods adopted by the government and private organisations to ensure that…
PRINCIPLES OF DEMAND
In order to know how a market economy works and how resources are allocated in an economic system, it is very important to understand what determines the demand and supply of goods and services. DEMAND Demand may be defined…
CONSUMER AND ORGANIZATIONAL BEHAVIOUR
Consumer behaviour is the study of individuals,groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and…
CONSUMER CHALLENGES AND RIGHTS
All person buying or consuming goods and services expects to get the best value for the money spent. He also has some rights and responsibilities over the quality of the goods bought and opportunity to seek redress. It is therefore…
Study Guide
