Dimensions That Should Be Looked at When Segmenting Consumer Markets

question 183

True/False

Dimensions that should be looked at when segmenting consumer markets are: geographic location and other demographic characteristics, behavioral needs, urgency to get needs satisfied, and willingness to compare and shop.

---

Definitions:

Producer Gains

The profits or positive financial outcomes that producers experience from selling goods or services, often due to pricing or market conditions.

Deadweight Loss

Refers to the loss of economic efficiency when the equilibrium for a good or service is not achieved, leading to a net welfare loss.

Price Floor

A governmental or regulatory minimum price set above the equilibrium price, preventing the market price from falling below a certain level.

Pounds

A unit of weight commonly used in the British imperial and United States customary systems, equal to 0.45359237 kilograms.