Supermarket Chain, IGA, Prides Itself on Flexibility to Customise Merchandise

question 51

Multiple Choice

Supermarket chain, IGA, prides itself on flexibility to customise merchandise assortment at the store level to meet the needs of consumers in specific geographic areas. Indeed, this point of difference forms a core part of all IGA's promotions. Which of the following BEST describes IGA's approach to segmentation?

• A) differentiated
• B) individual
• C) local.
• D) concentrated
• E) undifferentiated

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Definitions:

Single-Price Monopoly

A market structure where the monopolist offers its product to all consumers at the same price, without price discrimination.

Pay-per-view

A service that allows consumers to pay for and watch individual events or content, typically through a cable or satellite TV provider or online platform.

Perfect Price Discrimination

A pricing strategy where a seller charges the maximum possible price for each unit consumed that the buyer is willing to pay.

Consumer Surplus

The difference between the potential total payment by consumers for a product or service and the actual total payment they make.