Demographic Characteristics Are Commonly Used to Segment a Market Because

question 142

True/False

Demographic characteristics are commonly used to segment a market because they are closely related to consumers' product needs and purchasing behaviour.

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Definitions:

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than its competitors, leading to more efficient trade.

Absolute Advantage

The capability of a country, entity, or individual to produce a good or service more efficiently than competitors, using fewer resources.

Cars

Motor vehicles with four wheels typically used for transportation of people rather than goods.

Trucks

Heavy vehicles used for transporting goods and materials over land.