Market Segments Refer to

question 37

Multiple Choice

Market segments refer to

• A)the relatively heterogeneous group of prospective buyers that result from the market segmentation process.
• B)the relatively homogenous group of prospective buyers that result from the market segmentation process.
• C)the smallest unit of buyers that have similar needs but do not react similarly in a buying situation.
• D)all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
• E)all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.

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Definitions:

Real GDP

The total value of all goods and services produced by a country over a specific time period, adjusted for changes in price or inflation.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of all goods and services produced over a specific time period in real terms.

Social Security

Social Security is a government program that provides financial assistance to people with inadequate or no income, including retirees, disabled people, and their families.

National Income

National Income is the total value of all goods and services produced by a country's economy over a specific time period, plus income from abroad, minus income remittances to other countries.