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24 Which of the following is not the basis of market segmentation?
Demographic
O Price based
Geographic
O Psychographic
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Answer:
Price based
Explanation:
Market segmentation refers to dividing a vast market or consumers. It is carried out to select the best suitable market for the product or service offered by a company.
The most common forms of market segmentation are-behavioral segmentation which divides the market based on the consumer's behaviour, usage pattern and buying pattern.
Physchographic segmentation uses the people' lifestyle, activities and interests as a bases of segmentation.
Benefits segmentation refers to dividing the market based on the advantage or benefit the consumers perceive that they obtain from the product.
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