Sociodemographic Characteristics Used to Describe Market Segments Include the Following

question 2

Multiple Choice

Sociodemographic characteristics used to describe market segments include the following except

• A)ethnicity
• B)geographic
• C)occupation
• D)psychographic

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Definitions:

Supply and Demand

A fundamental economic model describing the interaction between the availability of a product and the desire for that product by consumers.

Overstocking

The situation where a business holds more inventory than is demanded by the market, leading to unnecessary storage costs and potential wastage.

Understocking

The situation in which inventory levels are too low, leading to stockouts and potentially missed sales opportunities.

Product Availability

The extent to which goods or services can be purchased from a particular company or market at any given time.