Because Consumers Differ in Age, Education, Income, and Tastes, Companies

question 74

True/False

Because consumers differ in age, education, income, and tastes, companies will be more likely to succeed if they target a segment of a market and develop goods and services specially tailored to that group.

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Definitions:

Theory of Reasoned Action

A psychological theory that explains an individual's behavior based on their intention to perform the behavior, which is influenced by their attitudes and subjective norms.

Predicting Behaviour

The process of forecasting individuals' future actions based on past and current behavior patterns, often used in psychology and marketing.

Original Fishbein Model

A psychological model developed by Martin Fishbein in the 1960s, used to predict behaviors based on an individual's attitudes towards the behavior and subjective norms.

Alterations

Changes made to the fit, style, or design of clothing to improve its appearance or utility.