Which of the Following Statements Is True of the Microcultures

question 18

Multiple Choice

Which of the following statements is true of the microcultures around the world?

• A) Street microcultures exist only in the United States due to large-scale immigration.
• B) Marketers need to ignore the effects of microculture when making marketing strategies.
• C) Firms need to account for the pervasiveness of microcultures when marketing products.
• D) Microcultures do not have any potential influence on consumer behavior.

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Definitions:

Consumer Surplus

The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.

Demand Curves

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.

Marginal Revenue

The additional revenue that a firm receives from selling one more unit of a good or service.

Price Discriminate

The strategy of selling the same product or service at different prices to different groups of consumers, often based on their willingness to pay.