A Visual Aid to Market Segmentation Is Called the ______

question 87

Multiple Choice

A visual aid to market segmentation is called the ______.

• A) marketing grid
• B) target market
• C) market boundary
• D) homogenous market
• E) heterogeneous market

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Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price, with higher elasticity indicating greater sensitivity.

Elastic

Describes demand that is highly responsive to changes in price, where a small price change leads to a large change in quantity demanded.

Inelastic

Describes a scenario where the demand or supply of a good or service is not significantly changed when the price of that good or service changes.

Elasticity of Demand

The measure of how much the quantity demanded of a good responds to a change in the price of that good.