How much should you spend on an engagement ring? It depends. Marketers realize perceived value drives purchase decisions. Which of the following is NOT a true statement about perceived value? Price represents the marketer's expectation for the customer's perceived value for a product Customers have similar perceptions which is why perceived value is similar for the same product across different customers Marketers can use marketing research to investigate customers' perceived value A marketing goal is to find a group of customers for which the company can maximize perceived value relative to competitors If a customers pays $1000 for a smartphone, but is later dissatisfied with the phone, the customer's perceived value for the phone was higher than $1000 when the phone was purchased. Question 6 1.67pts What is the main difference between a subsistence economy and a developing economy? A subsistence economy produces more than it consumes and a developing economy is primarily a service economy A subsistence economy is a service economy and a developing economy is based mainly on agriculture A subsistence economy is based mainly on agriculture and a developing economy produces more than it consumes A subsistence economy produces more than it consumes and a developing economy is based primarily on agriculture and basic manufacturing The two terms describe the same economic situation A good friend makes a recommendation for a new restaurant and says it is fantastic and you have to try it. Which of the following scenarios represents the most likely outcome? If the food is just ok, you will post a positive review If the food is just ok, you will leave a negative review If the food is just ok, you will tell all your friends about your experience If the food is great, you will tell all your friends about your experience If the food is terrible, you will tell all your friends about your experience Question 8 1.67pts The Marketing Department faculty are getting new laptops. The information technology group for the Harbert College is responsible for integrating and maintaining all the computer equipment in the college, including faculty laptops. A member from the information technology group provides the department with a list of specifications and equipment requirements that the new laptops must meet in order to comply with the College equipment standards. In this case, the information technology group's role in the buying center is Buyer/purchaser User Decider Gatekeeper influencer