13. A market penetration strategy employs the existing marketing mix and focuses the firm's efforts on existing customers. a. True b. False consumers buy. 14. Marketers have learned that culture influences a. what b. how C. where d. when e. all of the above 15. Understanding a market's needs and wants is fundamental to marketing success. a. True b. False 16. Thoughts, opinions, philosophies and intellectual concepts fit the ideas of neither goods nor services, and they cannot really be marketed. A. True B. False 17. Marketers must determine the price of a product carefully on the basis of the potential buyer's belief about: A. monetary policy. B. external stimuli. C. the environment. D. advertising ald E. its value. love the same day 18. Typical demographic data include: D A a. gender b. income C. race d. geographic region e. all of the above stage of life. -19. Generational cohorts are groups of people of the same generation who have similar because they have shared experiences and are in the same a. Cl attitudes b. purchase behavior c. inflationary expectations . d. technological fluctuations e. regional culture Page 3 of 12