Distinguishes between consumer needs and wants

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Reference no: EM132185521

1. As product adopters, members of the late majority

are leaders in social settings and have a slightly above average education.

have a fear of debt and use neighbors and friends as information sources.

are venturesome, highly educated, and use multiple information sources.

are deliberate and use many informal social contacts.

are skeptical and have below average social status.

2. Which of the following statements best distinguishes between consumer needs and wants?

Wants affect marketing decisions primarily for planned purchases while needs affect marketing decisions primarily for impulse purchases.

Needs are far more influential than wants with respect to marketing decision making.

Needs occur when a person feels deprived of basic necessities such as food, clothing, and shelter while wants are determined by a person's knowledge, culture, or personality.

Wants occur when a person feels deprived of basic necessities such as food, clothing, and shelter while needs are determined by a person's knowledge, culture, or personality.

Needs and wants are psychologically the same, but needs are those that a consumer can be guaranteed to satisfy.

3. appealing to interests such as retirement housing and financial planning are targeted at which generational cohort?

baby boomers

echo-boomers

baby busters

Generation Yers

Generation Xers

4. Olay, a cosmetics firm, offers anti-aging and restoration products targeted toward

Generation Z.

baby busters.

Generation Y.

echo-boomers.

baby boomers.

Reference no: EM132185521

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