Which of the Following Describes the Function of Geodemographic Segmentation

question 38

Multiple Choice

Which of the following describes the function of geodemographic segmentation?

• A) It stresses the belief that the benefits people are seeking in consuming a given product are the basic reasons for the existence of true market segments.
• B) It identifies the specific households in a market by focusing on local neighborhood areas and creates classifications of neighborhoods where people live and shop.
• C) It determines the type of lifestyles that consumers have by asking them about their activities, interests, and opinions, and groups them based on the similarity of their responses.
• D) It identifies the consumers' primary motivations and whether they are driven by ideals, achievement, and/or self-expression.

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Definitions:

Excise Tax

A tax levied on certain goods and commodities produced or sold within a country and on licenses granted for certain activities.

Consumers

Consumers are individuals or organizations that use economic goods or services, driving demand in the economy through their purchasing choices and preferences.

Producers

Producers are individuals or entities that create goods or provide services.

Efficiency Loss

The loss of economic efficiency that can occur when the balance between supply and demand is not achieved or is interfered with.