1. Organizations catering to the ________ need to price their offerings carefully because these markets usually have limited purchasing power.
A) business market
B) global market
C) nonprofit market
D) consumer market
E) exclusive market
2. Which of the following is true of business markets?
A) Buyers are usually not skilled at comparing competitive product offerings.
B) Buyers have limited purchasing power.
C) Property rights, language, culture, and local laws are the most important concerns.
D) Products sold in such markets are usually highly standardized.
E) Business buyers buy goods to make or resell a product to others at a profit
3.Consider the real estate industry. The ________ for this industry includes construction companies, financing institutions, paint manufacturers, interior decorators, furniture manufacturers, and plumbing industries.
B) latent market
C) need market
E) geographic market
4.________ are basic human requirements, while ________ are the ways in which those requirements are satisfied.
A) Wants; needs
B) Demands; wants
C) Needs; wants
D) Needs; demands
E) Demands; needs
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