Canebrake is a neighbourhood in which most families have household incomes over $100,000 and include at least one professional in the household, such as a doctor, lawyer, banker, or business owner. The fact that people of similar socioeconomic status tend to live in this neighbourhood is an example of which of the following?

Question

Quizplus · Accepted Answer

Geodemographics is the study of the demographics of particular neighbourhoods or regions. It involves analyzing the characteristics of the population in a given area, such as income, education, and occupation, and using that information to segment the market for products and services. In the case of Canebrake, the fact that most families have high household incomes and include professionals suggests that the neighbourhood is a desirable market for a variety of luxury goods and services that cater to this affluent segment of the population.

Canebrake Is a Neighbourhood in Which Most Families Have Household