Smart Marketers Might Respond to the Changes in the U

question 188

Multiple Choice

Smart marketers might respond to the changes in the U.S. population by:

• A) targeting customers in international markets to take advantage of faster population growth overseas.
• B) targeting areas where there is less population but also fewer competitors.
• C) focusing on areas, like the Northeast, where there are large numbers of potential customers.
• D) all of these are good responses.

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Definitions:

Variable Costs

Expenses that vary in direct proportion to the level of production or sales volume, such as materials and labor.

Quantity Produced

Indicates the total amount of goods or services produced by a company during a specific period.

Cross-Price Elasticity

A measure of the responsiveness in the quantity demanded of one good due to a price change in another good.

Break-Even Point

The point at which total costs and total revenue are equal, meaning that there is no net loss or gain, and one has "broken even."