Shannons Insurance Is a Highly Regarded, Niche- Market, Service Provider

question 68

Multiple Choice

Shannons Insurance is a highly regarded, niche- market, service provider that specialises in providing car insurance for vintage and classic cars. Shannons' customers are defined as car enthusiasts of any age, who value the tailored insurance products offered by the company. Shannons has MOST likely segmented on which of the following?

• A) psychographics
• B) usage rate
• C) benefits- sought
• D) demographics
• E) behavioural

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Definitions:

Parol Evidence Rule

A legal doctrine that prevents parties to a written contract from presenting extrinsic evidence of terms of the agreement that contradict, modify, or vary the terms of the written contract.

Customized Goods

Products that are tailored to meet the specific requirements or specifications of an individual customer.

Parol Evidence Rule

A legal rule that prevents the introduction of evidence outside the written contract that would alter or contradict its terms.

Integrated Contracts

Legal documents that combine all agreements and terms related to a particular deal or relationship into a single, comprehensive document.