Aggregating Prospective Buyers into Groups That (1)have Common Needs and (2)will

question 129

Multiple Choice

Aggregating prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action is referred to as __________.

• A)market aggregation
• B)market segmentation
• C)product segmentation
• D)product grouping
• E)mass marketing

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Definitions:

Weighted Average

An average that takes into account the varying degrees of importance of the numbers in a data set.

Simple Average

The arithmetic mean calculated by adding a group of numbers and then dividing by the count of those numbers.

Revolving Loan

A type of credit that allows the borrower to withdraw, repay, and redraw funds repeatedly up to a certain credit limit.

Average Balance

A calculation used by financial institutions to determine the average amount of money in an account over a specific period, often used to calculate interest charges or eligibility for benefits.