Demographic Segmentation Is One of the Most Popular Segmentation Approaches

question 1

Multiple Choice

Demographic segmentation is one of the most popular segmentation approaches because ________.

• A) it takes into account the climate of different regions.
• B) the needs and wants of customers remain constant based on demographic differences
• C) it uses easily identifiable characteristics of human populations such as lifestyle
• D) it is relatively easy to measure the variables used in this approach to segmentation
• E) the demand for all kinds of products is determined by where a person lives

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Definitions:

Monopolistically Competitive

Characterizes a market structure where many firms sell products that are similar but not identical, allowing for some degree of market power in setting prices.

Barriers To Entry

Factors that prevent or hinder the ability of a new competitor to enter an industry or market.

Monopolistically Competitive

Describes a market structure where many firms sell products that are similar but not identical, allowing for some degree of market power.