Clusters of Marketable Groups of Customers with Similar Likes,dislikes,lifestyles and Purchase

question 137

True/False

Clusters of marketable groups of customers with similar likes,dislikes,lifestyles and purchase behaviours can be identified by multivariable segmentation systems that merge and analyse geographic,demographic,lifestyle and behavioural data.

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Definitions:

Constant-Cost Industry

An industry where the cost of production does not change as the industry's output changes.

Increasing-Cost Industry

An industry in which costs per unit of output increase as the scale of output is increased due to factors such as shortages of resources or higher input costs.

Long-Run Equilibrium

A state in economics where all factors of production and outputs are variable, allowing for the adjustment to changes in demand, supply, and prices, resulting in a situation where firms earn normal profit.

Increasing Cost Industry

An industry in which costs of production increase as firms enter the market, often due to limited resources or factors of production becoming more expensive.