1. A latent need for a product is where
a. Consumers are attracted to products that have undesirable consequences, social and otherwise
b. Consumers are attracted to products that have solely undesirable social consequences
c. Consumers are unaware or uninterested in the product
d. Consumers cannot be satisfied by an existing product
e. More consumers would like to buy than product than can be satisfied (i.e., supply is less than demand)
2. Which of the following is true?
a. It tends to be equally expensive to attract a new customer as it is to retain a current customer
b. It tends to be less expensive to attract a new customer than it is to retain a current customer
c. It tends to be more expensive to attract a new customer than it is to retain a current customer