Using Psychographics,marketers Create Profiles of Customers Who Resemble Each Other

question 123

True/False

Using psychographics,marketers create profiles of customers who resemble each other in terms of their activities and patterns of product use.

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Definitions:

Negative Externality

A cost that affects someone who did not choose to incur that cost or participate in the action causing it, often seen in pollution where the public pays the price for private industry actions.

MSC (Marginal Social Cost)

The complete expense incurred by society for the production of one more unit of a good or service, encompassing both individual costs and any external effects.

Marginal Social Cost

The total cost to society of producing an additional unit of a good or service, including both private costs and externalities.

Society

A large group of individuals who live in the same area, share a common culture, norms, and values, and are organized in a cooperative manner.