Question

consumer is always a rational human being. Hence economic basis for segmentation is the most appropriate method."do you agree with this statement? give reason

Answer 1

Consumer is always a rational human being. Hence economic basis for segmentation is the most appropriate method.

Explanation:

• According to MARSHALLIAN MODEL, the consumers are assumed to be rational and conscious about economic calculations. They follow the law of marginal utility. Hence the economic basis for segmentation is the most appropriate method.
• Market segmentation is the study of the market place to discover a viable community of buyers who are homogeneous in their approach to the collection and use of products and services. Because the market segment has specific needs, a company that produces a product based specifically on the needs of that segment would be able to satisfy the demand of the target group and have more value for the customer than the competitor.

Answer 2

"Consumer is always a rational human being. Hence the economic basis for segmentation is the most appropriate method".

EXPLANATION-

YES, because consumers or customers are the individual basis of the economy to study them one by one brings a lot of tasks for the firm. Hence, Segmenting them on specific categories brings an immediate aggregate to study and work accordingly.

The consumer is said to a rational factor for the economy as it gets affected through many other available factors in the society like the taste; preference, status, income levels, etc. The consumer is the most dynamic applications of the market that impact overall operations of supply and demand of product and services. Whereas we take consideration over market segments it helps to look at how the customer/consumer is allocated over the market distinguished based on age, categories, gender, social status, etc.

Conclusion-

So, Segmenting customers on the above helps the manufacturer or organization to put up more synchronized factors for the attainment of goals and objectives effectively and efficiently.

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