(i) The two primary categories of markets - consumer markets and business markets - are based on the characteristics of the individuals and groups that make up that market and:

a.the length of time until the product is consumed.

b.the particular product category involved.

c.their willingness to use their buying power.

d.the level of need or desire for a specific product.

e.the purposes for which they buy products.

(ii) The driving force behind marketing-channel decisions should be:

a.cost reduction.

b.quality.

c.customer satisfaction.

d.environmental concerns.

e.convenience.

(iii) One advantage of non-price competition is that:

a.

a firm can react quickly to competitive efforts.

b.

pricing is no longer a factor.

c.

market share becomes less important.

d.

marketing efforts are completely eliminated.

e.

a firm can build customer loyalty.