If You Wanted to Introduce a Magazine Devoted to Providing

question 71

Multiple Choice

If you wanted to introduce a magazine devoted to providing information on how to live off the land in Canada,you would be likely to target Western Canadian men who have a strong need for individualism and limited government regulations.What type of segmentation would you probably use?

• A) Sociocultural
• B) situational
• C) Attitudinal
• D) Geodemographic

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Definitions:

Demand Function

A mathematical model that describes the quantity of a good or service demanded at various prices, holding other factors constant.

Substitution Effect

The substitution effect is a concept in economics that describes how consumers change their consumption patterns in response to changes in the prices of goods, opting for cheaper alternatives when prices increase.

Income

Money received, especially on a regular basis, for work, through investments, or from any other source.

Income Elasticity

A measure of how much the quantity demanded of a good responds to a change in consumers' income.