Keith, a Middle-Aged Sales Representative at a Sports Apparel Store

question 4

Multiple Choice

Keith, a middle-aged sales representative at a sports apparel store, often encounters customers from Generation Y. Which of the following approaches should Keith adopt to serve these customers better?

• A) He must adopt an informal approach and treat them as his own children.
• B) He must adopt a flippant approach toward them.
• C) He must strive to become overly familiar with them.
• D) He must strive to cater to their wants and needs just like any other customer.

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Definitions:

Third-Degree Price Discrimination

A pricing strategy where a seller charges different prices to different consumer groups based on their elasticity of demand.

Profits Maximization

Aiming to achieve the highest possible profits through decision-making related to business operations and finance.

Price Elasticity

A measure of how much the demand for a good or service changes in response to a change in its price.

Marginal Cost

The extra expense associated with manufacturing an additional unit of a product or service.