Industry Analysis May Not Be Required If

question 3

Multiple Choice

Industry analysis may not be required if:

• A) a buyer has considerable experience in the industry.
• B) there is no information readily available.
• C) the cost to do so would be prohibitive.
• D) the industry is not dominated by one large business.

---

Definitions:

Psychographic Segmentation

The process of dividing a market into segments based on consumer personality traits, lifestyle, or social status.

Personality

A person’s consistent behaviors or responses to recurring situations.

Lifestyle

The interests, opinions, behaviours, and behavioural orientations of an individual, group, or culture, influencing consumption patterns and preferences.

Behavioral Segmentation

The division of a market into groups based on consumers' purchasing behavior, including usage rate, loyalty, and buying occasions.