Identifying Specific Subgroups of Buyers Who Have Distinguishable Needs Is

question 65

Multiple Choice

Identifying specific subgroups of buyers who have distinguishable needs is called ________.

• A) market segmentation
• B) product analysis
• C) buyer division
• D) market design

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Definitions:

Personal Factors

Individual attributes such as personality, beliefs, and experiences that influence one's behavior and perceptions.

Peter Principle

A theory suggesting that people are promoted to their level of incompetence in a hierarchical organization.

Primacy Effect

The tendency to remember and give greater importance to information that is encountered first in a sequence.

Self-Serving Bias

A common cognitive bias where individuals attribute positive events to their own character but attribute negative events to external factors.