The Specialized Group of Consumers with a Structured Set of Relationships

question 222

Multiple Choice

The specialized group of consumers with a structured set of relationships involving a particular brand, fellow customers of that brand, and the product in use is referred to as

• A)a brand community.
• B)a VALS.
• C)an opinion leader.
• D)a social class.
• E)a buzz group.

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity of it that consumers are willing to purchase at different prices.

Price Sensitivity

The degree to which the demand for a product is affected by changes in its price.

Vertical

Refers to the integration of multiple stages of production and distribution within the same company.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that buyers are willing to purchase.