SPTE Ch 2 Quiz

Benjamin and Olivia are discussing how to best satisfy customer needs. What concept are they talking about?

• marketing concept

• marketing point

• opportunity cost

Hey Ethan, can you guess what we call a specific group of consumers a business wants to target?

• values-based culture

• opportunity cost

• comparative advantage

Nora and Maya are discussing what they believe they receive from a product. Can you help them identify the correct term?

• benefits derived

• target market

• marketing concept

Hey Arjun, do you know what college athletic conferences used to be based on?

• geographic segmentation

• behavioral-based segment

• psychographic segmentation

Imagine Anika and Jackson are at the college store. Anika decides to buy a $30 T-shirt because it reminds her of her favorite college memories. What kind of purchase is this?

• emotional purchase

• patronage purchase

• customer service gap

David and Hannah are discussing economics. David asks, "What do you call the value of the next best alternative that you pass up?"

• opportunity cost

• marketing concept

• values-based culture

Imagine Daniel and Emma are shopping for a new gadget. They make their decision based on careful thought and sound reasoning. What kind of purchases are they making?

• rational purchases

• patronage purchases

• economic market

Olivia and Daniel are running a lemonade stand. At what point do they cover all their expenses?

• breakeven point

• patronage purchases

• opportunity cost

Scarlett and Evelyn are discussing strategies to appeal to a large, general group of consumers. What term best describes this approach?

• mass marketing

• marketing mix

• economic market

Michael and Grace are discussing their shopping habits. What do you call purchases made by consumers with little thought?

• emotional purchases

• values-based culture

• marketing