The Demand for Chocolate Chip Cookie Dough Ice Cream Is

question 101

Multiple Choice

The demand for Chocolate Chip Cookie Dough ice cream is likely quite elastic because

• A) ice cream must be eaten quickly.
• B) this particular flavor of ice cream is viewed as a necessity by many ice-cream lovers.
• C) the market is broadly defined.
• D) other flavors of ice cream are good substitutes for this particular flavor.

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Definitions:

Psychographics

Pertains to the study of personality, values, opinions, attitudes, interests, and lifestyles of individuals or groups.

Market Segmenting

The process of identifying and targeting discrete groups within a larger market, each with its own set of needs, preferences, or characteristics, for more focused marketing efforts.

Standardization

The process of making something conform to a standard.