Which of the following is not a key influencer of market demand? Political discourse Socio-cultural factors Psychographics Demographics
Question
Which of the following is not a key influencer of market demand?
- Political discourse
- Socio-cultural factors
- Psychographics
- Demographics
Solution
The key influencers of market demand typically include socio-cultural factors, psychographics, and demographics. These factors can significantly affect consumer behavior and, consequently, the demand for certain products or services in the market.
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Socio-cultural factors: These refer to the combined influence of societal and cultural factors. They can include aspects like social class, cultural trends, attitudes towards certain products or services, etc.
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Psychographics: This refers to the study of personality, values, opinions, attitudes, interests, and lifestyles of people. It's used to define and segment markets and to understand consumer motivations and preferences.
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Demographics: These are statistical data relating to the population and particular groups within it, such as age, gender, income, education, occupation, marital status, etc. These factors can greatly influence the demand for certain products or services.
On the other hand, political discourse, while it can indirectly affect market demand by influencing the other three factors or by affecting economic conditions, is not typically considered a key influencer of market demand. Therefore, the answer to your question is "Political discourse".
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