Until Recently, Emil Flores Wouldn't Buy Any Coffee Except "Blue

question 5

Multiple Choice

Until recently, Emil Flores wouldn't buy any coffee except "Blue Mountain"-a relatively expensive type that few stores sell. He used to have to drive about 10 miles out of his way to buy it at a small shop. Then he was at a friend's home and tried an inexpensive brand of coffee sold by the local supermarket chain. Now he won't buy anything except that brand. For him, the supermarket coffee is

• A) an emergency product.
• B) a specialty product.
• C) a staple product.
• D) an unsought product.
• E) a heterogeneous shopping product.

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Definitions:

Price Effect

The impact on consumer demand and producer supply as a result of a change in the price of a good or service.

HHI

The Herfindahl-Hirschman Index, a measure of market concentration used to determine the level of competition within an industry.

Merger

The combination of two or more companies into a single entity, typically to leverage synergies or improve competitiveness.

Market Share

The portion of a market controlled by a particular company or product.