Abraham Maslow sought to explain why people are driven by particular needs at particular times. Describe Maslow's hierarchy of needs. How does Maslow's theory help marketers?
What will be an ideal response?
Maslow's hierarchy of needs in order of importance are physiological needs, safety needs, social needs, esteem needs, and self-actualization needs. Maslow's theory helps marketers understand how various products fit into the plans, goals, and lives of consumers.
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Which of the following is one of the functions of universal product codes?
a. to print product and price information on DVDs for the public b. to allow scanners to match codes with brand names, package sizes, and prices c. to assist the government in preparing records of customer purchases d. to provide detailed nutritional information
Each individual mutual fund hires an investment advisor, generally from the management company, who oversee the particular fund. How is this advisor paid?
A) Hourly B) Based on a percentage of the commissions charged on an annual basis C) Based on a percentage of the total value of the fund on an annual basis D) Annually based on the capital gains realized by the fund E) None of the above