Question

Which author defined the socio economic segmentation of the American market?

Answer 1

Ronald D. Michman author defined the socio economic segmentation of the American market. He is the professor of marketing in Shippensburg University in Pennsylvania. He have given the readers none books to understand the economy.

He have written some very useful books in giving the idea of market strategy Lifestyle Market Segmentation which was published in the year 1991.

Answer 2

Ronald D. Michman defined the ‘socio-economic segmentation’ of the American market.

Explanation:

• Ronald D. Michman explains how the importance of lifestyle market segmentation is playing an important role in strategic decision making.

• The lifestyle marketing decisions are based on social and cultural changes in group dynamics and how it is influencing the purchasing decisions of the people in the markets.  

• The markets can be segmented into the senior people, teenagers, ethnic groups, singles, and many other different groups.  

• He tells us how their decisions impact the purchasing habits and the changing values and behaviour of the people.  

Learn more about socio economic segmentation

Socio economic classification lifestyle and personality are major segmentation variable in which category

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