Which of the following statements is NOT true regarding socioeconomic market segmentation?
A) It is easy in foreign markets where income and life-cycle stage are not measured.
B) It is the most common type of market segmentation.
C) It is defined by variables that include age, gender, income, occupation, and education.
D) It is most often compiled through data taken from Statistics Canada.

Question

Quizplus · Accepted Answer

Socioeconomic market segmentation is not easy in foreign markets where income and life-cycle stage are not measured. This is because socioeconomic variables such as income and occupation are different in different countries, making it difficult to apply a standardized segmentation approach. Therefore, companies may need to consider alternative variables to segment their foreign markets. The other options are true: socioeconomic market segmentation is defined by variables such as age, gender, income, occupation, and education, and it is one of the most common types of market segmentation. However, the data for socioeconomic segmentation is not limited to Statistics Canada and may be obtained from various sources such as government surveys, market research firms, and internal company data.

Which of the Following Statements Is NOT True Regarding Socioeconomic