Explain how marketers identify different market segments
What will be an ideal response?
Answer: In identifying market segments, researchers look at a number of different influences on consumer behavior. Some of the variables used for segmentation are geographic, demographic, and psychographic variables. Geographic variables are geographical units that may be considered in developing a segmentation strategy. Demographic variables describe populations, identifying traits such as age, income, gender, etc. Psychographic variables are lifestyles, opinions, interests, and attitudes. Two other segments include geo-demographic and behavioral segments.
You might also like to view...
Consumers have the right to honest communication about the products and services they buy and the companies they buy them from
Indicate whether the statement is true or false.
Which one of the following steps in the planning process should precede the others?
A) develop premises upon which each alternative is based B) develop plans to pursue the chosen alternative C) list alternative ways of reaching objectives D) choose the best alternative for reaching objectives E) put plans into action