In the Market Segmentation Process,customer Needs,wants,and Demands Are Considered Segment

question 14

Multiple Choice

In the market segmentation process,customer needs,wants,and demands are considered segment .

• A)bases
• B)specializations
• C)psychographics
• D)descriptors

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Definitions:

Cross-price Elasticity

A measure of how the quantity demanded of one good changes in response to a change in the price of another good.

Substitutes

Goods or services that can be used in place of each other, having the capability to satisfy similar needs or desires.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various price points, at a given time.

Excise Tax

A per-unit tax on a specific good.