Marketers in the United States Are Paying Increasing Attention to Ethnic

question 10

Multiple Choice

Marketers in the United States are paying increasing attention to ethnic groups because

• A)they represent a majority of the population in nonurban areas of the country.
• B)approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups.
• C)they are more susceptible to marketing messages.
• D)government subsidies assist marketers attempting to communicate value to these groups.
• E)country culture is replacing regional culture as a key marketing consideration.

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Definitions:

Profit

The surplus amount after all expenses are deducted from the total income generated by a business or investment.

Price Discrimination

Charging different prices to different buyers for identical products.

Perfectly Price Discriminate

A situation where a seller charges each buyer their maximum willingness to pay, capturing all consumer surplus as profit.

Surplus

A condition where the supply of a product or service surpasses its demand at the existing price.