The Division of Buyers into Groups Based on Their Social

question 3

Multiple Choice

The division of buyers into groups based on their social class,life-style or personality characteristics is ________ segmentation.

• A)behavioural
• B)psychographic
• C)age and life-cycle
• D)demographic
• E)geographic

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Definitions:

Greater Competition

An increase in the number of competitors in a market, which can lead to improvements in quality, innovation, and pricing for consumers.

Outside Distractions

External factors or stimuli that divert attention away from a focal task or goal.

Profit Margins

The percentage of revenue that remains as profit after all expenses have been subtracted.

Company Decisions

Involves choices made by a business entity's leadership that affect its operations, strategies, and future direction.