Psychographic Variables Are Related to Visible Characteristics of the Market

question 45

True/False

Psychographic variables are related to visible characteristics of the market such as age and gender.

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Definitions:

Markdown Rate

The percentage reduction from the original price of an item to its sale price.

Mark-up

Surcharging the cost price of commodities to envelop overheads and assure profits.

Springtime Shipment

Scheduled transportation of goods during the spring season, implying a specific timing for shipping operations.

Markdown

The reduction of the selling price of goods or services, often to clear old stock or respond to decreased demand.