BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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geographic and demographic
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geographic and psychological
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psychological and demographic
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psychological and behavioral
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Detailed explanation-1: -A service called Prizm posits that MBAs who live in New York have a lot more in common with their counterparts in London, Saö Paulo, and Tokyo, than they do with their neighbors in New York who are relatively less educated or wealthy.
Detailed explanation-2: -Market segmentation refers to aggregating prospective buyers into groups with common needs and who respond similarly to a marketing action.
Detailed explanation-3: -Geographic segmentation is a type of market segmentation that groups prospective customers based on where they live.
Detailed explanation-4: -Using an undifferentiated marketing (or mass-marketing) strategy, a firm might decide to ignore market segment differences and target the whole market with one offer. This mass-marketing strategy focuses on what is common in the needs of consumers rather than on what is different.