When Segmenting on the Basis of Family Life Cycle,all of the Following

question 89

Multiple Choice

When segmenting on the basis of family life cycle,all of the following are segment categories EXCEPT ________.

• A) young, single
• B) male, female
• C) young, married
• D) older, married, no children under 18
• E) young, married, youngest child 6 or over

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Definitions:

Revenue Management

Revenue Management is the strategic analysis and optimization of sales and inventory to maximize profitability, often used in airline, hotel, and other service industries.

Expected Value

The anticipated value of a random variable, computed as the weighted average of all possible values it can take on, based on their probabilities.

Small Market

A term referring to an economic environment or sector that has a relatively small number of buyers and sellers, potentially leading to higher volatility and unique challenges.

Repetitive Decisions

Decisions that occur regularly, requiring a consistent approach or strategy to manage typical situations or processes.