MKT 201 terms for exam 1 questions and answers Graded A+
MKT 201 terms for exam 1 questions and answers Graded A+ Need - A state of felt deprivation — i.e. physical (food, water, shelter), social (belonging, affection), individual (knowledge, self-expression). Want - The form that needs to be shaped by culture and individual personality (e.g. wanting sushi vs. wanting a sandwich). Demand - Wants backed by buying power (i.e. people have the willingness and ability to pay). Customer value - The difference between the benefits a customer perceives from a market offering (or from owning/using it) and the costs (monetary, time, effort, risk) of obtaining it. Value - You can think of value as 'what you g
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