Two Broad Groups of Variables Are Used to Segment Consumer

question 80

True/False

Two broad groups of variables are used to segment consumer markets: geographic and demographic variables.

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Definitions:

Specialization

involves focusing on a narrow range of products or services to gain efficiency and improve competitive advantage.

Exchange

The act of giving one item in return for another, often seen in finance and trade as the swapping of goods, services, or financial instruments.

Trade

The exchange of goods, services, or both between two or more parties, either across international borders or within a single market.

Value

The importance, worth, or usefulness of something, often in economic terms as perceived by the consumer.