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A _____ Is a Range of Prices for a Specific

question 56

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A _____ is a range of prices for a specific merchandise line that appeals to customers in a certain demographic group.


Definitions:

Generation Y

Includes the 62 million Americans born between 1981 and 1996. Also called the echo-boom.

Psychographic Segmentation

The process of dividing a market into segments based on consumer personality traits, lifestyle, or social status.

Personality

A person’s consistent behaviors or responses to recurring situations.

Lifestyle

The interests, opinions, behaviours, and behavioural orientations of an individual, group, or culture, influencing consumption patterns and preferences.

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