Which of the Following Completes the Statement,'A ______ Is a Snapshot

question 20

Multiple Choice

Which of the following completes the statement,'A ______ is a snapshot of your ideal customer that tells a story using the information you used for segmentation (i.e. ,demographic,geographic,psychographic,benefits sought,and behaviour) .'?

• A)CRM.
• B)Biographical outline.
• C)Personality sketch.
• D)Predictive model.
• E)Buyer persona.

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Definitions:

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods, where individuals substitute away from more expensive goods towards cheaper ones.

Marginal Utility

The added satisfaction or usefulness received from consuming one more unit of a good or service.

Total Utility

The total satisfaction received from consuming a certain amount or combination of goods and services.

Money Income

The total amount of monetary earnings or receipts received by an individual or household from various sources before taxes.