Demographic Segmentation Divides Markets by

question 36

Multiple Choice

Demographic segmentation divides markets by

• A)geographic location.
• B)characteristics such as age, gender, and income.
• C)characteristics such as loyalty and price sensitivity.
• D)consumer attitudes.
• E)psychological traits.

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Definitions:

Constant Cost Industry

An industry wherein the costs of production do not change as the overall level of output increases or decreases.

Entry Barriers

Obstacles that prevent new competitors from easily entering an industry or area of business, including high startup costs, licensing requirements, and access to technology.

Zero Economic Profit

A situation where a firm's total revenue is exactly equal to its total opportunity costs, indicating no excess returns over the cost of capital.

Long Run

A period in which all factors of production and costs are variable, allowing for adjustments in production to meet changes in the market or economy.