One of the Most Common Forms of Segmenting Consumer Markets

question 100

Multiple Choice

One of the most common forms of segmenting consumer markets uses characteristics such as age,income,household size,and/or ethnic group.This is known as ________ segmentation.

• A)geographic
• B)psychographic
• C)end-use
• D)demographic

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Definitions:

Subsidy

A financial contribution provided by the government to support or promote a particular economic activity or sector.

Elastic Demand

A market condition where the demand for a product changes significantly in response to changes in price.

Inelastic Supply

Refers to a market scenario where the quantity supplied does not change significantly when the price of the product changes.