Economic consumers are more price elastic than personalizing consumers.

Name: Economic consumers are more price elastic than personalizing consumers.
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Question

Quizplus · Accepted Answer

Economic consumers are more likely to be sensitive to changes in price and will therefore exhibit a higher level of price elasticity. Personalizing consumers, on the other hand, prioritize features and benefits that align with their personal preferences and are willing to pay more for those aspects, making them less price elastic.

Economic Consumers Are More Price Elastic Than Personalizing Consumers