In marketing, consumer demand exists when a desire is supported by what condition?
Correct answer: A. Adequate purchasing power
- A. Adequate purchasing power
- B. Strong brand awareness
- C. Frequent media exposure
- D. Regular sales promotion
Explanation
Demand is a want backed by the ability and willingness to pay for a product. Awareness or promotion may influence demand, but they do not by themselves create purchasing power.
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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.
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