In your text, the example of the Chinese washing machine competing with Whirlpool Corporation illustrates the need for successful companies to
A) take market share from large corporations.
B) promote your product as a category leader.
C) target upper-income, well-established families.
D) invest in social media as a marketing tool.
E) understand demographics and psychographics.

Question

Quizplus · Accepted Answer

Understanding demographics and psychographics is crucial for companies to effectively compete in the market by tailoring their products and marketing strategies to meet the specific needs and preferences of different consumer segments.

In Your Text, the Example of the Chinese Washing Machine