Match the Term with Its Definition

question 14

Multiple Choice

Match the term with its definition
-A process of identifying customers that fit into smaller, more homogeneous groups

• A)80/20 principle
• B)customer database
• C)customer segmentation strategy
• D)evaluative criteria
• E)evoked set
• F)post-purchase dissonance
• G)recency-frequency-monetary analysis
• H)social classes
• I)touch point
• J)transactional relationship

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Definitions:

Indifference Curve

A curve showing the different combinations of two products that yield the same satisfaction or utility to a consumer.

Parallel Shift

Parallel shift is a concept in economics where a graph, such as a demand or supply curve, shifts left or right without changing its slope, indicating a uniform change in demand or supply.

Budget Line

A line that shows the different combinations of two products a consumer can purchase with a specific money income, given the products’ prices.