Asked by Sushil Kumar Pradhan on May 20, 2024
Verified
Shannon is considering using psychographics to segment the market for her small travel agency. This approach to segmentation offers her an advantage because
A) it is based on underlying motivations of target customers.
B) it is easier to use than demographics.
C) the travel business doesn't respond well to other approaches to segmentation.
D) psychographics is the preferred method for service businesses.
E) psychographic segmentation is the least expensive method.
Psychographics
The study and classification of people based on their attitudes, aspirations, and other psychological criteria, primarily used in marketing.
Target Customers
A specific group of consumers at whom a company aims its products and services, identified by characteristics like age, gender, income, and interests.
Demographics
The statistical characteristics of human populations, such as age, gender, income, and education, used especially to identify consumer markets.
- Understand the significance of psychographic segmentation in forecasting consumer actions.
- Ascertain how consumer decisions are influenced by lifestyles, values, and self-awareness.
Verified Answer
Learning Objectives
- Understand the significance of psychographic segmentation in forecasting consumer actions.
- Ascertain how consumer decisions are influenced by lifestyles, values, and self-awareness.
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