Market segments are often defined and profiled with reference to a mix of variables such as geographic, demographic, psychographic and behavioural.

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This statement is true. Market segments are commonly defined and described based on a combination of variables, such as geographic location, demographic characteristics, psychographic attributes, and behavioral patterns. These variables help businesses to identify and understand the characteristics and needs of different groups of consumers, which can inform marketing strategies and tactics.

Market Segments Are Often Defined and Profiled with Reference to a Mix