How Useful Is Social Class as a Variable for Segmenting Consumer Markets?
In the early days of segmentation, according to Schiffman, it was not unusual to apply only one segmentation criterion, e.g. demographic segmentation. Today marketers have realized that it is to simplified to apply only one criterion for segmenting complex markets. Therefore, it is common to combine several criteria to create rich and comprehensive segmentation profiles in order to find the most beneficial target markets for one's product. Shortly, it can be argued that geographic and demographic variables help to locate a certain target market, whereas psycho-graphic and socio-cultural variables help describe who its members are, how they think and how they feel.
Demographic is segmenting customers based on age, income, gender, etc. …
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