The core consumer and elasticity: A visual representation of "Thinking at the Margin"

The brief presentation above illustrates the concept of "relative elasticity," which is often implicit in articles describing specific economic conditions.  The excerpt below, which caught my eye, is from this article on the struggles  the fast food chain "Jack in the Box" is facing. 

"While Jack in the Box has its fans, it’s fair to say the chain lacks enough of a dedicated audience to keep it successful during difficult financial periods.  Jack in the Box draws casual, occasional (sometimes inebriated) diners, especially in social or late-night contexts. That audience exists, but it’s too small and intermittent to drive lasting success...."

 "Dedicated audience" suggests consumers who prefer Jack in the Box fare regardless of other choices in the fast food category.  Their demand is relatively inelastic.  

This core consumer is vital to the financial success of any business.  The goal is to enlarge this core to capture consumers who are not as dedicated----relatively MORE ELASTIC in their demand.

I think the above short presentation I made vividly illustartes the concept.  Helps me visualize the economic concept of ELASTICITY.