What are the different consumer groups and how are these groups kept separate?
Discuss price discrimination and college textbooks. What are the different consumer groups and how are these groups kept separate?
Answer:
Three general groups...
1.) The disgustingly poor- cannot save money, existing day to day, starving in the streets thinking about how unfair life is... [cannot afford up-to-date textbooks or education]
2.) Joe "Schmuckitelli" Average- facing an uncertain future as wages fail to keep pace with inflation... [cannot afford to repay exhorbitant educational costs]
3.) The disgustingly rich- living like "kings" with money to burn.. they could be destroyed by an impoverished society seeking revenge for an unfair world... [pays back student loans with devalued worthless money at a later date]
How are these groups kept separate?
A.) Mostly by pay and compensation...
B.) Knowledge- knowledge is power!
C.) Circumstance...
Does this help any?
The consumer groups are primary users who are forced to buy the newest books at the book store, for a premium, and the other consumer group is the secondary users who buy the text books a few years later for pennies on the dollar.
If you are taking a class, most likely you will have to pay $80 to $150 for a book that will be wroth $10 to $20 a few months after the class.
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Answer:
Three general groups...
1.) The disgustingly poor- cannot save money, existing day to day, starving in the streets thinking about how unfair life is... [cannot afford up-to-date textbooks or education]
2.) Joe "Schmuckitelli" Average- facing an uncertain future as wages fail to keep pace with inflation... [cannot afford to repay exhorbitant educational costs]
3.) The disgustingly rich- living like "kings" with money to burn.. they could be destroyed by an impoverished society seeking revenge for an unfair world... [pays back student loans with devalued worthless money at a later date]
How are these groups kept separate?
A.) Mostly by pay and compensation...
B.) Knowledge- knowledge is power!
C.) Circumstance...
Does this help any?
The consumer groups are primary users who are forced to buy the newest books at the book store, for a premium, and the other consumer group is the secondary users who buy the text books a few years later for pennies on the dollar.
If you are taking a class, most likely you will have to pay $80 to $150 for a book that will be wroth $10 to $20 a few months after the class.
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