Question

Demographic factors are the most popular bases for segmenting customer groups. Group of answer choices True False

Answer 1

The statement is: True.

Step-by-step explanation:

Market segmentation is the technique in which a company demographically classifies its consumers typically by age, gender, and income. Market segmentation allows firms to focus on one specific group of the market to provide them a more specialized good or service that better matches their needs.

Answer 2

The answer is true.

Step-by-step explanation:

Demographic segmentation is a method used to divide the population into segments based on a number of factors. The factors can be based on:

1. Age

2. Gender

3. Income

4. Religion

In marketing, this segmentation helps the business to analyze their consumers or customers. With this, best-fit product is designed for each segments.

Products that High Net Worth individuals consume is different from low-income earners and High Net Worth individuals are mostly concentrated in some part of city different from low-income earners.

So analyzing this will be helpful in marketing.

Also age. the age of consumers in particular country or state should be analyzed inorder to design the best products meant age brackets.