Critics of Maslow pointed out that depending on the personal value system of an individual, he/she might skip the level of esteem needs and move directly toward self-actualization.

Product strategies are essentially the same for consumer and business markets.

All Hispanics speak the single universal form of Spanish.

Marketers rarely encounter differences among members of a target group, as they segment potential consumers into homogeneous groups.

A population, used for market research purposes, is a subgroup of the total sample selected for analysis.

Business products contribute directly or indirectly to the production of other goods and services for resale.

Karen prefers to buy Chemtec’s cleaning products over other brands if they are easily available in the market. Karen is in the brand insistence stage of brand loyalty.

Analysis of sales performance records helps marketers to find clues to potential problems.

Retail outlets are the contact points between the channel members and ultimate consumers.

A private exchange is also called c-business because of its relatively more collaborative nature.