In the Context of Segmentation of Customers in Database Marketing

question 61

Multiple Choice

In the context of segmentation of customers in database marketing, _____is used to discover patterns and relationships.is a variable that includes gender, age, income, and marital status. ​

• A) strategical information
• B) geographical information
• C) psychographic information
• D) demographic information

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Definitions:

Inelastic Demand

Product or resource demand for which the price elasticity of demand is less than 1, so that any given percentage change in price leads to a smaller percentage change in quantity demanded. As a result, quantity demanded is relatively insensitive to (inelastic with respect to) price.

Agricultural Demand

The total demand for agricultural products, influenced by factors such as population growth, income levels, and dietary trends.

Farm Output

Farm output refers to the total quantity of agricultural products produced by a farm, including crops, livestock, and dairy products.

Inelastic Nature

A characteristic of a good or service for which the quantity demanded or supplied changes by a smaller percentage than the percentage change in price.