Hello!
The answer to your question is "price elasticity".
:)
Is this a true or false question? Is it multiple choice? is it expected to be written in complete sentences as a short answer? I need more context on how to respond to the situation in the question :)
Answer:
They should conduct a market research, since probably they are targeting the wrong market segment.
Explanation:
A market research, if done correctly, should allow them to gather information about who are their potential customers (target market) and what do they need or want.
incomes of the people
the number of customers in the market
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