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List and Discuss the Recognition Criteria for the Two Types

question 14

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List and discuss the recognition criteria for the two types of subsequent events.


Definitions:

Product Groupings

The organization of products into categories or families based on similarities in function, customer segment, or other characteristics, facilitating easier management and marketing.

Demographic Variables

Demographic variables are characteristics such as age, gender, income, education level, and ethnicity, used to classify and understand target markets or populations.

Psychographic Variables

Characteristics of consumers or markets based on interests, lifestyles, attitudes, and values for segmentation purposes.

Segmentation Bases

Criteria or variables used for dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors, who might require separate products or marketing mixes.

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