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Given the highly competitive nature of business-to-business markets, the biggest enemy to marketers here is commoditization.

Psychogenic needs arise from the physiological states of tension such as hunger or discomfort.

The ultimate form of foreign investment is direct ownership of foreign-based assembly or manufacturing facilities.

Business buyers often select suppliers who also buy from them.

In the case of prestige goods, the demand curve sometimes slopes upward.

Many consumers use price as an indicator of quality and value.

The behavior people exhibit as they pass through certain life-cycle stages, such as becoming a parent, is largely fixed and does not change over time.

A marketer who has unit costs of $16 and wants to earn a 20 percent markup on sales would charge a markup price of $20.

Companies prefer customers who are less price sensitive.

Services represent the fastest-growing sector of the global economy and account for two-thirds of global output.