KFC Has Modified Its Product to Satisfy Different Market Segments

question 108

Multiple Choice

KFC has modified its product to satisfy different market segments.In Holland,the mashed potatoes are replaced with a potato-and-onion croquette,and in Thailand,a customer gets fresh rice with soy or sweet chili sauce with his or her chicken.KFC uses:

• A)product positioning.
• B)market sectioning.
• C)market segmentation.
• D)product differentiation.

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Definitions:

Consumer Surplus

The deviation between consumers’ anticipated payment for a product or service and the eventual price paid.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at each price level.

Consumer Surplus

The discrepancy in the total amount anticipated to be paid by consumers and the amount that is actually paid for a product or service.

Shipping Increases

A rise in the cost or amount required to transport goods from one location to another, potentially affecting trade and sales prices.