1. List and discuss the major bases for segmentation of consumer markets. Explain the four variables in detail for Balwaan
Answers
The major bases for segmentation of consumer markets for Balwaan are as follows:-
1. Gender- It is one of the most important and simple bases of consumer markets.
2. Income- It plays a very important role in segmenting the market of the bases of income level.
3. Occupation- It plays an important role as like income by deciding the way of living of people.
4. Lifestyle- Other than physical factors segmentation is also based on the bases of lifestyle. Its subsets are marital status,interest, hobbies etc.
The major bases for segmentation of consumer markets involve demographic segmentation, geographic segmentation, psychographic segmentation, and behavioral segmentation.
Explanation:
- Demographics involves factors like age, family size, occupation, race, religion, nationality, etc.
- This mainly focuses on the needs, wants, etc. of the consumer.
- Geographic segmentation divides the market in different and various geographical units like nations, states, cities, etc. and take care of the needs accordingly.
- Psychographic segmentation looks at the traits of one’s lifestyle and personality.
- Behavioral segmentation tells us about the attitude or response of a consumer towards the product.
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List and discuss the major bases for segmentation of consumer markets. Explain the four variables in detail for Balwaan.
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List and discuss the major bases for segmentation of consumer markets. Explain the four variables in detail for Balwaan.
https://brainly.in/question/13847995