Demand, utility, and marginality Essay Example | Topics and Well Written Essays - 750 words

Demand, utility, and marginality - Essay Example Cumberland Farms stores are designed to meet the needs of middle-income urban and suburban individuals and families in the Eastern and Midwestern United States. Their main service is convenience, which is how they became a major chain of so-called convenience stores. While variety is necessarily limited by the size and marketing approach of each store,customers generally know what goods are carried and many basic needs can be met easily That convenience includes long hours,multiple locations, easy access to products, minimal checkout waiting time, and similar advantages to workers, retirees, students, commuters, travelers, etc. Their products are often priced below their competition, particularly those carrying the Cumberland Farms brand name. While variety is necessarily limited by the size and marketing approach of each store, customers generally know what goods are carried and many basic needs can be met easily by shopping at Cumberland Farms. The major factors affecting demand fo r Cumberland Farms` products are price;variety; hours and locations of stores; competition from other convenience stores gas stations, and supermarkets; customers ´ experiences dealing with stores; and various advertising and marketing techniques used to promote business. Within some limits, Cumberland Farms can and does respond to increased demand. For example, some products such as eggs and milk are essentially loss leaders and as the prices elsewhere for such items increase, Cumberland Farms raises its stock of these items and offers rain checks so customers can get the special prices later if the store runs out of such specials. Cumberland Farms also has some control over