Shannon is considering using psychographics to segment the market for her small travel agency. This approach to segmentation offers her an advantage because Multiple Choice psychographics is the preferred method for service businesses. it is easier to use than demographics. psychographic segmentation is the least expensive method. it is based on underlying motivations of target customers. the travel business doesn't respond well to other approaches to segmentation.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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