Which of the following terms is used to represent market sensitivity to changes in price or other characteristics?
A) Elasticity
B) Differentiation
C) Congruity
D) Segmentation
E) Positioning

Question

Quizplus · Accepted Answer

Elasticity is the term used to represent how a market reacts to changes in price or other characteristics. It measures the responsiveness of demand or supply to changes in price or income. Differentiation refers to the process of making a product or service distinct from its competitors. Congruity refers to the compatibility or consistency between a company's image and its message. Segmentation is the process of dividing a market into smaller groups based on characteristics such as demographics or behavior. Positioning is the process of establishing a brand's image and differentiating it from its competitors in the minds of consumers.

Which of the Following Terms Is Used to Represent Market