Suppose You Camped Out in Front of an Electronics Store

question 129

Multiple Choice

Suppose you camped out in front of an electronics store to be one of the 200 lucky people able to purchase the latest gaming system. You bought the system for $350. Two weeks later you see that the same system can be sold on e-Bay for $600, so you sell your system. Your market role was as a:

• A)consumer in both markets.
• B)consumer at the electronics store and a seller on e-Bay.
• C)consumer at the electronics store; the e-Bay transaction did not occur in a market.
• D)seller in both markets.

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Definitions:

Product Repositioning Strategy

An approach in marketing where an existing product is marketed differently to change its perception among consumers or to reach a new target market.

Mississippi Gulf Coast

A region along the southern edge of Mississippi bordering the Gulf of Mexico, known for its natural beauty, tourism, and cultural heritage.

Market Modification

The process of changing market elements, including product features, pricing, and distribution methods, to better meet consumer needs or adapt to competitive pressures.

Product Bundling

The practice of selling multiple products or services together as a single combined package, often at a reduced price compared to purchasing them separately.