16 A product consists of the benefits or customer value received by its sellers: is the cluster of benefits that an organization promises customers to satisfy their needs. Ois a good service, or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value. O consists of items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort. O is the set of intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value QUESTION 17 Market segments refer to Othe relatively heterogeneous groups of prospective buyers that result from the market segmentation process. all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future the smallest number of buyers that have similar needs but do not react similarly in a buying situation. the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action. all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so. QUESTION 18 A nonprofit organization is a nongovernmental organization that serves its customers but does not have profit as an organizational goal. legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit. O publicly owned organization that serves the general population. group of people united through contractual or corporate ownership. privately owned organization that serves its customers to earn a profit so that it can survive. QUESTION 19 All of these constitute the four Ps of the marketing mix except which of the following? Opromotion profitability price Oplace product QUESTION 20 Utility refers to the Ohumber of alternative uses or benefits that can be provided by a single product or service. O adaptability of a marketing program to adjust to changes in the marketing environment. benefits or customer value received by users of the product Ofixed costs associated with the production of a single unit of a product within a product line. Ovariable costs associated with the production of a single unit of a product within a product line. Click Save and Submit to save and submit. Click Save All Answers to save all answers