Market Segmentation Attempts to Isolate Traits That Distinguish a Certain

question 140

True/False

Market segmentation attempts to isolate traits that distinguish a certain group from the overall market, as well as seeking to pinpoint factors affecting their buying behaviour.

---

Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers over a range of prices.

Inferior Goods

Goods whose demand decreases when consumers' income increases. They are the opposite of normal goods, which see increased demand with higher income.

Income Increase

A rise in the amount of money received, especially by workers or businesses, over a specific period.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good consumers are willing to buy.