Breaking Down Populations of People into Groups or Target Markets

question 61

Multiple Choice

Breaking down populations of people into groups or target markets is referred to as ______.

• A) consumer recognition
• B) market diversity
• C) market segmentation
• D) regression analysis

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Definitions:

Standard Error

A statistical measure that quantifies the variability or dispersion of a sample statistic from the population parameter it estimates.

Population Distribution

A term that describes how the values of a variable are distributed across an entire population.

Sampling Distribution

The probability distribution of a given statistic based on a random sample.

Normal Distribution

A bell-shaped curve distribution that is symmetrical around the mean, where the bulk of the values lie near the center and it tails off towards the extremes.