Demographic Variables Are Often Used for Segmenting Markets Because It

question 95

True/False

Demographic variables are often used for segmenting markets because it is relatively easy to gather demographic information.

---

Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded for a given period.

Elastic

Describes a situation in which the supply or demand for a good or service significantly changes in response to price changes.

Elasticity of Demand

An indicator of the variation in the amount of a good or service desired with respect to its price fluctuation.

Slightly Inelastic

Describes demand or supply that is only marginally responsive to changes in price, with the quantity demanded or supplied changing by a smaller percentage than the price change.