Demographic Segmentation Refers to the Segmentation of Consumers Based On

question 89

Multiple Choice

Demographic segmentation refers to the segmentation of consumers based on:

• A)the worth that consumers get from products or services.
• B)where the consumers live.
• C)how consumers describe themselves.
• D)the consumers' life goals.
• E)the consumers' age, gender, or education.

---

Definitions:

Price Discrimination

The strategy of selling the same product at different prices to different groups of consumers, based on their willingness to pay.

Economic Profit

The total revenue of a firm minus its explicit and implicit costs, essentially measuring the excess beyond the break-even point.

Price Discrimination

Price Discrimination occurs when a seller charges different prices for the same product or service to different customers, based on factors other than the cost of production.

Individual Demand

The quantity of a good or service that a single consumer is willing and able to purchase at various prices.