Your Current Assignment at York Foods Is to Find the Major

question 39

Multiple Choice

Your current assignment at York Foods is to find the major benefits people look for in product classes,the kinds of people who look for each benefit and the major brands that deliver each benefit.What is this segmentation method called?

• A)benefits sought
• B)user status
• C)age and life-cycle
• D)psychographic
• E)demographic

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Definitions:

Consumer Surplus

The variance between the overall sum consumers can and will pay for a good or service and what they genuinely spend on it.

Producer Surplus

The difference between the amount that producers are willing and able to sell a good for and the actual amount they receive (higher market price).

Market Equilibrium

A condition in a market where the quantity demanded by consumers equals the quantity supplied by producers, leading to a stable price.

Producer Surplus

The difference between the amount a producer is paid for a good and the minimum amount they would be willing to accept.