An Organic Farmer Has Identified Three Distinct Groups Who Might

question 146

Multiple Choice

An organic farmer has identified three distinct groups who might be interested in his products: vegetarians,people who are concerned about chemicals in their foods,and people who consider themselves innovators and trendsetters.These three groups are examples of ________.

• A) marketing mixes
• B) market segments
• C) value propositions
• D) mass markets
• E) marketing intermediaries

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Definitions:

Market Equilibrium

A state where the quantity of goods or services supplied is equal to the quantity demanded at a particular price.

Standard Of Living

The scale of monetary assets, amenities, worldly possessions, and survival necessities allotted to a distinct class or demographic region.

Market Shortage

A situation where the demand for a product exceeds its supply in the market, leading to scarcity.

Equilibrium Price

The price at which the supply of an item equals the demand for it, resulting in no excess supply or demand.