It Is Clear That the Customers at the Bottom of the Pyramid

question 21

True/False

It is clear that the customers at the bottom of the pyramid, those who lived on less than $2 a day, are highly profitable.

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Definitions:

Price Elasticity

The degree to which demand for an item adjusts following a price alteration for the same item, quantified as a percentage change.

Watches

Timekeeping devices worn on the wrist, designed to show the time, and possibly include other features such as date display, stopwatch, and alarms.

Per Capita Income

The average income earned per person in a given area in a specified year, often used to measure economic well-being.

Demand

The total quantity of a good or service that consumers are willing and able to purchase at a given price in a given time period.