Markets Can Be Segmented Using a Single Variable (Such as Gender),or

question 198

Essay

Markets can be segmented using a single variable (such as gender),or by several variables in combination (such as gender,age group,and education).While multiple-variable segmentation is more descriptive and precise than single-variable segmentation,it has several disadvantages.Name three disadvantages of multiple-variable segmentation.

---

Definitions:

Sampling Error

The difference between a population parameter and a sample statistic that results from selecting a sample.

Expected Value

The predicted average outcome of a random variable, computed as the weighted average of all possible values.

Stratified Random Sampling

A probability sampling method in which the population is first divided into strata and a simple random sample is then taken from each stratum.

Strata

Subsets of a population that are known to be homogeneous with respect to some characteristic, used in stratified sampling.