When Segmenting Markets, One Should Look at Geographic Location and Demographic

question 154

True/False

When segmenting markets, one should look at geographic location and demographic characteristics as well as customers' desire and willingness to compare and shop, but behavioral needs aren't important for this purpose.

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Definitions:

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing and able to provide, holding other factors constant.

Demand Curve

A curve that illustrates the quantity of a product that consumers are willing and able to purchase at various prices, showing the inverse relationship between price and quantity demanded.

Levied

Imposed or collected, usually referring to taxes, duties, or other charges by an authority.

Demand Curve

A chart that illustrates the connection between a product's cost and the amount of the product customers are prepared to buy at different price levels.