Variables Such as Location, the North American Industry Classification System

question 109

Multiple Choice

Variables such as location, the North American Industry Classification System (NAICS) code, and number of employees are all examples of ways to

• A)get around gatekeepers and reach buyers.
• B)forecast sales to a consumer market.
• C)segment an organizational market.
• D)segment a consumer market.
• E)promote buyer loyalty.

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Definitions:

Commodity X

A placeholder term for any generic good that is interchangeable with other goods of the same type and is not differentiated in the market by its features.

Advanced Analysis

The application of sophisticated methods and techniques in the assessment, evaluation, and understanding of complex subjects or data.

Equilibrium Price

The market price at which the quantity of a good supplied equals the quantity demanded, leading to a stable market condition.

Price Ceilings

Government-imposed limits on how high a price can be charged for a product or service, aimed at protecting consumers.