Universal Concerts Is Planning on Bringing a Series of Concerts

question 218

Multiple Choice

Universal Concerts is planning on bringing a series of concerts to Canada next year. In order for its concerts to be a success, it needs to know that Western Canadians like country music and that a country music event in Eastern Canada is much more likely to have empty seats. This consumer behaviour requires Universal Concerts to segment its Canadian market according to:

• A)geographic and psychographic characteristics.
• B)lifestyle and demographic characteristics.
• C)usage rate and demographic characteristics.
• D)demographic characteristics.

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Definitions:

Industry Leader

A company that holds the highest market share or the highest profitability margin in a specific industry, setting benchmarks and leading in innovation, customer service, and product quality.

Human Capital

The collective skills, knowledge, and expertise that employees bring to their workplace, regarded as a valuable asset to the company.

Productivity

The measurement of efficiency in which inputs (such as labor and materials) are converted into outputs (goods and services).

Corporate Strategy

The overarching plan of action that determines the direction of an enterprise and its goal of creating, maintaining, and developing a competitive advantage.