Marketers Use Demographic Information to Segment Markets Because It Is

question 198

Essay

Marketers use demographic information to segment markets because it is widely available and often related to consumers' purchasing and consumption behaviour.List four 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:

Diminishing Returns

Diminishing returns, a concept in economics, occurs when adding an additional factor of production results in a lower increment of output, assuming other factors are constant.

Total Cost

The entire expense of production, incorporating both consistent and fluctuating costs.

Produce

Refers to agricultural products, especially fresh fruits and vegetables, created through farming.

Utility

Utility is a measure of satisfaction or happiness that consumers derive from consuming goods and services.