Question

Chicago's Best Pizzeria has been operating on the north side of Chicago for over 30 years. Its target market includes young, urban professionals who want new style, organic pizzas with exotic ingredients. However, in recent years, the population in the pizzeria's neighborhood has been shifting and fewer young, urban professionals live there. The population has grown older and wants traditional pizza, not pizza with exotic ingredients. Which of the following identifies the pizzeria's BEST response to this situation?

Answer 1

Target a new market with a different product.

Step-by-step explanation:

In this case, it is important not to stop the production of the pizza with exotic ingredients because of course the target market for that product is still available even if they have reduced in number. The best response is to create a new product targeting the new market that has created the demand for traditional pizza. That way, you maximize both revenue and profit in doing so.