In Developing a Marketing Strategy for a Fast Food Restaurant

question 114

Multiple Choice

In developing a marketing strategy for a fast food restaurant you decide that what it was really selling was full hot meals,small snacks,desserts,and salads.This is an example of:

• A)target market selection.
• B)product grouping.
• C)market-product grid development.
• D)taking marketing actions to reach target markets.

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Definitions:

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price over a specific time period.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a given period.

Demand

The quantity of a good or service that consumers are willing and able to purchase at different prices at a given time.

Supply Curve

A graphical representation of the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing to offer for sale at each price level.