Demographic Segmentation Is One of the Most Popular Segmentation Approaches

question 70

Multiple Choice

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

• A)It is readily measurable
• B)Customer needs and wants tend to vary with some degree of regularity based on demographic differences
• C)It uses the easily identifiable characteristics of human populations such as age or income
• D)It is easy to measure the variables like age or income
• E)All of these

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Definitions:

Absolute Advantage

The ability of a country, individual, or firm to produce a good or service at a lower cost per unit than other producers.

Trade Benefits

Advantages countries gain from engaging in international trade, such as increased economic growth, diversification, and access to new markets.

Comparative Advantage

An economic theory stating that countries or entities benefit from specializing in producing goods where they have lower opportunity costs, leading to more efficient global production.

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors when given the same resources.