MANAGEMENT

Detailed explanation-1: -Definition: Demographic segmentation groups customers and potential customers together by focusing on certain traits such as age, gender, income, occupation & family status.

Detailed explanation-2: -Perceptual Map. The perceptual map helps you identify where your competitors are positioned in relation to your product’s position. It helps you understand what the average target market consumer thinks of your product and those of your competitors.

Detailed explanation-3: -Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

Detailed explanation-4: -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.