ENTREPRENEURIAL PLANNING
MARKETING PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It affects the language spoken
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It impacts the cultural norms of the market
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It determines the size of the market
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It has no effect on international marketing
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Detailed explanation-1: -Segmenting a population by using demographics allows companies to determine the size of a potential market. The use of demographics helps determine whether its products and services are being targeted to that company’s most influential consumers.
Detailed explanation-2: -Demographic environment is a term used by marketers to describe the characteristics of a population that can be used to influence the success of a business or commercial venture. The most important demographic factors for businesses include age, sex, income, education level, and occupation.
Detailed explanation-3: -Demographic segmentation is a precise form of audience identification based on data points like age, gender, marital status, family size, income, education, race, occupation, nationality, and/or religion. It’s among the four main types of marketing segmentation, and perhaps the most commonly used method.