Explain the Four Major Segmentation Variables for Consumer Markets

question 53

Essay

Explain the four major segmentation variables for consumer markets.

---

Definitions:

Bagels

A type of bread product originating from the Jewish communities in Poland, known for its dense, chewy texture and a hole in the middle.

Supply

The total amount of a specific good or service that is available to consumers at a particular price level.

Demand

The amount of a product or service that buyers are prepared and capable of buying at different price levels over a specified time frame.

Consumption

The use of goods and services by households or individuals, which is a primary component of economic activity.