If Airlines Give Passengers Under the Age of 10 a 25

question 67

True/False

If airlines give passengers under the age of 10 a 25% discount, then this is an example of price discrimination.

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Definitions:

Market Segment

A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product and service needs.

Consumption Behavior

The patterns and actions of consumers when selecting, purchasing, using, and disposing of goods and services.

Demographic Cluster

A grouping of people in the market based on specific demographic factors such as age, income, or geographic location.

Marketing Concept Era

A period marked by businesses focusing on meeting consumers' needs and wants to ensure satisfaction, typically dating from the mid-20th century onwards.