Selling a Product to a Different Market Segment Usually Requires

question 93

Multiple Choice

Selling a product to a different market segment usually requires a different marketing action that in turn means greater costs.If increased revenues don't offset extra costs of this action,a marketer should __________.

• A)increase the advertising budget
• B)prune the product offerings
• C)family brand their products
• D)combine segments
• E)group products into categories

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Definitions:

Snob Effect

The phenomenon where the demand for a certain good increases as the perceived exclusivity or status associated with the good increases, appealing to consumers desiring social distinction.

Inverse Demand Principle

A concept in economics where the quantity demanded decreases as the price increases, illustrating the negative relationship between price and demand.

Elite Polarization

The increasing ideological divergence and conflict between the leadership or most active members of political parties or factions, often resulting in intensified partisan competition and reduced opportunities for compromise.

Relative Advantage

The degree to which an innovation is perceived as better than the idea it supersedes, contributing to its rate of adoption.