What are the practical problems involved in applying price theory concepts to actual pricing decision? Which of the following is true of convenience products? Consumers tend to buy convenience products after a long-term evaluation of competing products in the market. Consumers generally don't have prior need recognition of convenience products before purchasing them. O Consumers generally tend to purchase convenience products immediately and with minimal effort. Consumers tend to buy convenience products because of the prestige associated with their ownership. Advertising that promotes a concept, idea, philosophy or the goodwill of an industry, company, organization, person, or government agency is known as: institutional advertising O persuasive advertising reminder advertising informative advertising