Frosty inc., a beverage manufacturer, only had one product in its line and was targeting all types of customers. with respect to the market coverage alternatives, which of the following best characterizes the approach used by the company?

a. benefit marketing
b. concentrated marketing
c. niche marketing
d. undifferentiated marketing

It is an undifferentiated marketing

Explanation:

Under undifferentiated marketing strategy, seller is not focusing on any segment of the market as its target customers. This product is produced without having a particular segment of customer in mind i.e a one size fits all type of product.

This type of strategy is not sustainable and it is probably going to get stalk in the middle because according to Michael Porter, you can either compete using cost-leadership , differentiated or focused strategy.

As a producer of undifferentiated product, you are neither using cost-leadership strategy nor differentiated strategy.

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.