Define the Following Terms

question 15

Short Answer

Define the following terms:
-balanced approach

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Definitions:

Behavioral Variables

Factors that influence the actions of individuals or groups, often considered in marketing to understand consumer decision-making processes.

Psychographic

Relates to consumers' lifestyles, attitudes, values, and personality traits, used in marketing to segment markets more precisely.

Lifestyle

A way of living or doing things, which can influence consumption patterns, preferences, and social interactions.

Personality Characteristics

Traits that define an individual’s behavior, attitudes, and emotions, influencing how they interact with the world and make decisions.