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Provide an Example of How a Demographic Variable Has Been

question 59

Essay

Provide an example of how a demographic variable has been used to position a product to a target market.


Definitions:

Perfectly Competitive Industry

An industry in which all producers are price-takers.

Monopolist

A monopolist is a sole provider of a good or service in a market, facing no direct competition, which allows for control over prices.

Market Demand

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

Price Maker

A firm or entity that has the power to influence the price at which a product or service is sold, typically due to a lack of competition or a unique product offering.

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