Companies selling mass consumer goods and services such as soft drinks, cosmetics, air travel, and athletic shoes and equipment spend a great deal of time trying to establish a superior brand image in markets called __________.
Correct answer: C. Consumer markets
- A. Business markets
- B. Global markets
- C. Consumer markets
- D. Nonprofit and governmental markets
Explanation
Soft drinks, cosmetics, air travel and athletic shoes are bought by individuals for personal use, so the firms compete mainly in consumer markets. Business markets involve organizational purchases for production or operations.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? support@testustad.com
About Marketing
Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
Practise Marketing
1,700 free Marketing MCQs from Management Sciences, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Management Sciences questions like this
Management Sciences is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Marketing questions
In business markets, advertising can play a role, but a stronger role may be played by the sales force, ______, and the company's reputation for reliability and quality.
Global marketers must decide ___________.
In order to describe a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries, Mohan sawhney has proposed the concept of__________?
Marketers often use the term ___________ to cover various groupings of customers.
In __________more customers would like to buy the product than can be satisfied.
In latent demand, consumers may share a strong need that cannot be satisfied by a/an____________?