Quick Bite Is a Hugely Popular U

question 47

Multiple Choice

Quick Bite is a hugely popular U.S.chain of drive-in fast food restaurants.After assessing the current marketing situation,the firm opens a coffeehouse in Japan.The coffeehouse has a classic style and relaxed atmosphere,which is completely different from the firm's Quick Bite outlets.In this example,the firm uses which of the following marketing strategies?

• A) market penetration
• B) diversification
• C) vertical integration
• D) horizontal integration
• E) decentralization

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Definitions:

Income Elasticity

The ratio of the percentage change in the quantity demanded of a good to the percentage change in consumer income, used to measure how changes in income affect demand.

Negative

Typically associated with undesirable outcomes or attributes, indicating a deficit or reduction.

Good A

A hypothetical or generic product or service that is used as an example in economic theories or problems.

Price-Inelastic

A scenario where the demand for a good or service is relatively unchanged when the price varies.