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What Are the Three Questions That Must Be Answered in Order

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What are the three questions that must be answered in order to write a positioning statement?


Definitions:

Engel Curve

A graph that illustrates how household expenditure on a particular good or service varies with income.

Demand Curve

A graphical representation that shows the relationship between the price of a good and the quantity demanded by consumers.

Quantity Demanded

The specific amount of a good or service that consumers are willing to purchase at a given price point, at any given moment.

Price-Consumption Curve

A curve that shows how a consumer's optimum basket varies with changes in the price of a good, holding other factors constant.

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