Lilly's, a Furniture Retailer, Sells Low-End Furniture and Accent Pieces

question 98

Multiple Choice

Lilly's, a furniture retailer, sells low-end furniture and accent pieces that are targeted toward lower-income consumer groups. Lilly's most likely segments the consumer market based on ________ variables.

• A) demographic
• B) psychographic
• C) universal
• D) geographic
• E) behavioral

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Definitions:

Express Warranty

A guarantee explicitly stated by a seller regarding the condition, functionality, or performance of a product.

Waive Warranty Rights

Choosing to relinquish the legal rights to claim defects or faults in purchased goods or services guaranteed by warranty.

Seller's Request

A demand or requirement put forth by a seller regarding the terms, conditions, or actions related to a sale.

Consumer Protection

Laws and regulations designed to ensure the rights of consumers as well as fair trade, competition, and accurate information in the marketplace.