Answered: Which of the following is FALSE?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Transcribed Image Text:Which of the following is FALSE? а. A description of the typical customer in a market segment is known as a segment profile. b. Characteristics of consumers which allow the market to be divided into fairly homogeneous groups, each with different needs, are known as segmentation variables. С. The 80/20 rule is generally considered to be less useful in segmenting markets because marketers want to go after segments with large numbers of consumers. d. Identifying consumers according to lifestyles is referred to as psychographics. е. Identifying consumer groups according to the circumstances in which they use a particular product is one form of behavior-based segmentation.

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