24 Jun EXPLAIN THE DIFFERENCES AMONG THE TERMS WANTS, NEEDS, AND DEMANDS.
PLEASE READ CAREFULLY: Each answer should be about a paragraph long. Do not copy your answers from the web, the text book, etc. In other words, you MAY USE the book, the videos, your notes, and other sources, but WRITE YOUR ANSWERS IN YOUR OWN WORDS. Any two papers submitted with wordfor-word answers will both be scored as zero points. This test covers Chapters 1-4. Five essays at 14 possible points each (for a total of 70 points possible). 1.- 1.- Explain why it is important to have the statisticians and the marketing executives both in the room at the same time, when interpreting the results of marketing research. 2.- Within the framework of this continuum, explain the purpose of marketing: Monopoly Oligopoly Monopolistic Competition Pure Competition Tell what marketers do to move their Örms along this scale, tell how they do it, and how and why it beneÖts them. 3.- Explain the differences among the terms wants, needs, and demands. 4.- Use the marketing terminology from the Örst three chapters to explain what we saw in the Patricia Kaas videos. 5.- Use the marketing terminology from the Örst three chapters to contrast what we saw in the Patricia Kaas videos with what we discussed while and after watching the Bad Livers videos. In other words, compare the two different marketing strategies.
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