Intro to Business True or False

TRUE FALSE. Write Tif the statement is true and if the statement is false. 1) Product differentiation is selecting the best price at which to sella product 2) 2) Geographie variables describe populations by identifying traits, such as age, income, gender, ethnie background, marital status, race, religion and social class 3) Rational motives involve nonjective factors and include sociability, imitation of others and aesthetics The institutional market is made up of businesses that buy goods to be converted into other products or that are used up during production 5) Marketing consists primarily of advertising a product or service. 6) A value package consists of an in-store advertisement that makes the product attractive and identifies features and benefits. 7) Speed to market increases the chance that a new product will survive. 8) Aprivate brand is a brand name developed by a wholesaler or retailer for their product 9) The breakeven point is the price at which a company ears the maximum profits. 10) Companies using price lining offer all items in certain categories at a limited number of prices. 11) The distribution mix is the combination of channels that a firm selects to get a product to end users. 12) The oldest and most expensive form of sales is personal selling, in which a salesperson communicates one-on-one with potential customers to identify their needs and align them with the product 13) E-intermediaries include syndicated sellers and shopping agents 14) Dropshippers carry inventory for retailers. 15) In promotion, a pull strategy involves marketing a product to wholesalers and retailers, who then persuade customers to buy it