Firms Offer Different Variations of the Same Basic Product or Service

question 14

Multiple Choice

Firms offer different variations of the same basic product or service to both,high-end and low-end segments.Gap's Banana Republic chain sells blue jeans for $58,whereas its Old Navy stores sell a slightly different version for $22.This is an example of:

• A)mass customization.
• B)two-tier marketing strategy.
• C)one product and multiple market segments.
• D)price discrimination.

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Definitions:

Behavioral Differences

Describes variations in actions and reactions among individuals or groups due to genetic, environmental, or psychological factors.

Descriptive Research

A research method that involves observing and describing the behavior of a subject without influencing it in any way.

Phenomenon

An observable event or a fact that can be scientifically described or explained, often intriguing or unusual.

Data Analysis

The process of systematically applying statistical and/or logical techniques to describe, illustrate, condense, recap, and evaluate data.