Final answer:
The statement is false; NASCAR's marketing shift based on female viewership is an instance of demographic segmentation, not psychographic segmentation. The focus on gender as a characteristic for market division is a key element of demographic segmentation.
Step-by-step explanation:
The statement that NASCAR redirected its marketing efforts when a survey indicated that almost 50 percent of its fans were female is an example of psychographic segmentation is false. Psychographic segmentation involves dividing a market into segments based on social class, lifestyle, or personality characteristics. In this case, NASCAR is using demographic segmentation, which is the division of the market based on gender, age, income, etc. Understanding that a large portion of their audience is female allows NASCAR to tailor its marketing strategies to better appeal to this segment, potentially influencing the success of their campaigns.
Surveys and studies of population proportions and consumer behavior are essential in informing demographic and psychographic segmentation. Segmentation ensures that marketing efforts are directed at the most receptive audience, thus maximizing effectiveness and ROI.