Normative Statements Are Statements About

question 285

Multiple Choice

Normative statements are statements about

• A) prices.
• B) quantities.
• C) what is.
• D) what ought to be.

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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.