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Which out of the following industries has a large number of well-off buyers in urban areas?
- a)Footwear
- b)Automobiles
- c)Jewellery
- d)Clothing and accessories
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Which out of the following industries has a large number of well-off b...
Introduction:
The income and lifestyle of people residing in urban areas are quite different from those living in rural areas. Urban areas have a higher concentration of well-off buyers, which is why industries that cater to this segment have a better chance of succeeding.
Explanation:
Out of the given industries, the automobile industry has a large number of well-off buyers in urban areas. Here's why:
1. Urbanization: With the increase in urbanization, people in urban areas have higher incomes, and they tend to spend more on luxury items like cars.
2. Increased Mobility: Urban areas are generally more congested, and people need to travel longer distances to get to their workplace, which makes owning a car a necessity.
3. Brand Value: Owning a car is also seen as a status symbol in urban areas, and people are willing to spend more on luxury car brands to maintain their social status.
4. Government Policies: The government policies in urban areas are more favorable towards the automobile industry, with better infrastructure and tax incentives.
5. Market Competition: The automobile industry is highly competitive, and companies are always trying to outdo each other by launching new and advanced models.
Conclusion:
In conclusion, the automobile industry has a large number of well-off buyers in urban areas because of various factors like urbanization, increased mobility, brand value, government policies, and market competition.
The income and lifestyle of people residing in urban areas are quite different from those living in rural areas. Urban areas have a higher concentration of well-off buyers, which is why industries that cater to this segment have a better chance of succeeding.
Explanation:
Out of the given industries, the automobile industry has a large number of well-off buyers in urban areas. Here's why:
1. Urbanization: With the increase in urbanization, people in urban areas have higher incomes, and they tend to spend more on luxury items like cars.
2. Increased Mobility: Urban areas are generally more congested, and people need to travel longer distances to get to their workplace, which makes owning a car a necessity.
3. Brand Value: Owning a car is also seen as a status symbol in urban areas, and people are willing to spend more on luxury car brands to maintain their social status.
4. Government Policies: The government policies in urban areas are more favorable towards the automobile industry, with better infrastructure and tax incentives.
5. Market Competition: The automobile industry is highly competitive, and companies are always trying to outdo each other by launching new and advanced models.
Conclusion:
In conclusion, the automobile industry has a large number of well-off buyers in urban areas because of various factors like urbanization, increased mobility, brand value, government policies, and market competition.
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Community Answer
Which out of the following industries has a large number of well-off b...
The correct option is b .Automobile industries has a large number of buyers in urban areas because now a days having motorcar and bikes are just ordinary . people understand that automobile make their life easy to run ,everything is possible with vehicals. In today's rapid changing environment every one is thinking to be modern and want their life easy. So that's the reason why automobile industries has well -of buyers in urban areas.
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Which out of the following industries has a large number of well-off buyers in urban areas?a)Footwearb)Automobilesc)Jewelleryd)Clothing and accessoriesCorrect answer is option 'B'. Can you explain this answer?
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