Selective attention is the tendency to interpret information in a way that will fit our preconceptions.

Price elasticity magnitudes are lower for durable goods than for other goods.

The impact of country of origin is independent of the type of product.

If a society is collectivist, it would imply that the self-worth of the people is rooted in individual achievements.

Smaller packaging and lower sales prices are often critical in markets where incomes are limited.

Price discrimination in all forms is illegal in the United States.

The “customer is king” category of buyer-seller relationship is relatively simple, and one in which routine exchanges with moderately high levels of cooperation and information exchange occur.

Selective retention works to the advantage of strong brands.

When the licensor provides the licensee with a complete brand concept and operating system, the arrangement is called contract manufacturing.

A good illustration of a member of the institutional market would be Boeing because it is a member of the aviation institution structure.