Socioeconomic Variables Are Among the Most Important Bases to Be

question 7

Essay

Socioeconomic variables are among the most important bases to be considered when segmenting markets.Comment on the major issues that might be faced when making the decision on whether to use per capita GDP or GNP as a country segmentation criterion.

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Definitions:

Quasi-Contract

Not an actual contract but a legal construct imposed by courts to prevent unjust enrichment where no formal contract exists.

Unjustly Enriched

A legal term describing a situation where one party benefits at another's expense without a valid basis for the gain.

Statute of Limitations

Laws that set the maximum time after an event within which legal proceedings may be initiated.

Unenforceable

A term applied to a contract or clause that, for legal reasons, cannot be enforced by a court.