Geodemographics can be used to segment business markets as well as consumer markets.

Question

Quizplus · Accepted Answer

Geodemographics is a segmentation approach that combines geographic and demographic data to categorize people and places into market segments. While it is commonly used to segment consumer markets, it can also be used to segment business markets based on location, industry, size, and other factors. Therefore, the statement is true.

Geodemographics Can Be Used to Segment Business Markets as Well