Understanding Consumers Is Very Important for Marketers

question 20

Multiple Choice

Understanding consumers is very important for marketers. But not all consumers are alike. For example, some consumers learn better through written words, while others prefer images. Some are frugal, while others are free-spenders. These traits that differ among consumers are referred to as _____.

• A) demographics
• B) psychographics
• C) personality variances
• D) individual difference variables
• E) self-concept variation

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Definitions:

Earners

Individuals or entities that receive income through work or investments.

Marginal Tax Rates

The tax rate that applies to each additional dollar of income.

High-Income Taxpayers

Individuals who earn income above a certain threshold and are often subject to higher tax rates or additional taxes.

Borrows Funds

The act of obtaining a certain amount of money from another party, usually financial institutions, under the condition of returning it in the future, often with interest.