Principles of Marketing

e. there has been no assessment of consumer wants and needs.

All of the following are examples of products or services that satisfy a consumer need EXCEPT:

a. a pair of jeans.

b. an apple.

c. a student dormitory.

d. a sports car.

e. a jacket.

All of the following are examples of products or services that satisfy a consumer need EXCEPT:

a. a pair of jeans.

b. an apple.

c. a student dormitory.

d. a sports car.

e. a jacket.

The process of turning corn into ethanol shows how BioFuel Energy, a Minnesota ethanol producer, can create __________ utility.

a. time

b. place

c. possession

d. market

e. form

The process of turning corn into ethanol shows how BioFuel Energy, a Minnesota ethanol producer, can create __________ utility.

a. time

b. place

c. possession

d. market

e. form

Which statement best describes the most significant difference between a for-profit organization or a business firm and a nonprofit organization?

a. Business firms operate with larger budgets than nonprofits.

b. Nonprofit organizations do not carry on economic activities while business firms do.

c. Nonprofit organizations are concerned with social issues and business firms are not.

d. Both serve customers, but business firms seek a profit while nonprofit organizations do not.