Marketers Use Demographic Information to Segment Markets Because It Is

question 147

Essay

Marketers use demographic information to segment markets because it is widely available and often related to consumers' purchasing and consumption behavior.List five common bases used by marketers for demographic segmentation.For each base listed,give an example of a product specifically targeted to the needs and wants of the segment identified within the base.

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Definitions:

European Union

A political and economic union of 27 European countries that are committed to regional integration, characterized by its single market allowing for the free movement of goods, services, people, and capital.

Nation-By-Nation Basis

An approach that treats each country or national market as unique, developing tailored strategies, products, and marketing to address local preferences and regulations.

Economic Crises

Periods of severe economic downturns marked by significant declines in income and employment across various sectors.

Strategic Global Partnerships

Agreements between organizations from different parts of the world to pursue shared objectives while leveraging each other's strengths.