Marketers think in terms of a product as a compilation of package design and labeling, brand name, price, availability, warranty, reputation, image, and customer service activities that add value for the customer.

Interpretative research is an observational method that observes consumers in their natural setting.

The buying behavior of an individual in a group is not only affected by the norms of the group, but also by that individual’s role and status within the group.

Databases and interactive marketing are important IMC tools that help marketers collect information from customers and then segment markets according to demographics and preferences.

Extensive planning time is required for the purchase of supplies.

One-price policies are more likely to be applied in marketing programs based on individual bargaining.

Odd pricing originated as a way to force clerks to make change, thus serving as a cash-control device.

In the early stages of B2B transactions, marketers believed that online trading was limited to only a few types of products.

People who want to learn about a product and its features in detail are more likely to search out this information on Twitter, while those interested in a promotional event are more likely to follow Facebook.

A full-service retailer usually sells convenience products that people can purchase without any assistance.