Market segmentation entails marketing to consumers based on chronological age alone.

Question

Quizplus · Accepted Answer

Market segmentation involves dividing a larger market into smaller groups of consumers who share similar needs or characteristics, such as demographics, interests, behaviors, or psychographics. While chronological age may be one factor considered in market segmentation, it is not the sole criterion used to target consumers. Marketers may also consider other variables, such as gender, income, education, location, lifestyle, values, or attitudes, to tailor their marketing efforts to different segments of the population.

Market Segmentation Entails Marketing to Consumers Based on Chronological Age