Which of the Following Types of Segmentation Is Employed When

question 13

Multiple Choice

Which of the following types of segmentation is employed when consumers are grouped according to their usage and buying responses to a product or service?

• A)behavioristic
• B)demographic
• C)benefit
• D)socioeconomic
• E)psychographic

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Definitions:

Monopolistically Competitive

A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power.

Inefficient

A state where resources are not optimally allocated, often resulting in wasted resources or outputs that do not maximize potential value.

Monopolistically Competitive

Describes a market structure where many companies sell products that are substitutes, but are not perfect substitutes, leading to some degree of market power for each firm.

Barriers to Entry

Obstacles that make it difficult for new competitors to enter a market, such as high startup costs or strict regulations.