When Penguin Catering Services First Opened,the Owner Decided to Target

question 128

Multiple Choice

When Penguin Catering Services first opened,the owner decided to target only events at resorts in its geographic region.Penguin Catering was using a(n) __________ targeting strategy.

• A) concentrated
• B) micromarketing
• C) benefit-driven
• D) differentiated
• E) undifferentiated

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Definitions:

Concentration Ratio

A measure used in economics to assess the extent of market control held by the largest firms within an industry.

Profit-maximizing Output

The level of production at which a firm achieves the highest possible profit, where marginal cost equals marginal revenue.

Total Cost

The sum of all costs required to produce a certain amount of a good or service, including fixed and variable costs.

Duopoly

A two-firm oligopoly.