ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How is a market segmented by ‘lifestyle’?
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Products can be aimed specifically at males or females or both.
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People have different hobbies and interests, which can be connected to income and location.
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Consumers live in different parts of the country and will have different tastes and needs. Those living in the city might want a smaller car.
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Age groups can be split into categories e.g. 0-10, 11-16 or 18+. Or even by young and old.
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Explanation:
Detailed explanation-1: -Psychographic segmentation involves profiling a market segment based on a descriptive set of characteristics-such as personality, traits, lifestyle, and values. We also use AIO’s-to define a psychographic profile.
Detailed explanation-2: -Geographic segmentation involves segmenting your audience based on the region they live or work in. This can be done in any number of ways: grouping customers by the country they live in, or smaller geographical divisions, from region to city, and right down to postal code.
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