Basing Market Decisions on What a Product Will Do Rather

question 81

True/False

Basing market decisions on what a product will do rather than on consumer characteristics is called benefit segmentation.

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Definitions:

Output Effect

The impact on total output or production due to a change in selling price, affecting the quantity sold.

Price Effect

The impact on consumer demand and consumption patterns caused by changes in the price of goods or services.

Collude

To cooperate secretly, especially with the intention to deceive or achieve an illegal or deceitful purpose.

Total Revenue

The total amount of money received by a company for goods sold or services provided during a certain time period.