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Proctor & Gamble, the makers of Oil of Olay skin lotion, have traditionally targeted women over 30 years of age. This is an example of
Marginal Value
The additional satisfaction or utility received by consuming one more unit of a good or service.
Consumer's Demand
The desire of purchasers, users, or consumers for specific goods or services at a given price over a specified period.
Substitution Effect
The economic principle that as prices rise or incomes decrease, consumers will replace more expensive items with less costly alternatives.
Hamburger
A popular food item consisting of a cooked patty of ground meat, typically beef, placed inside a sliced bread roll or bun.
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