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The characteristics of lifestyle, motivation and personality are most often used in which market segmentation strategy? A - HSC - SSCE Business Studies - Question 5 - 2022 - Paper 1
Question 5
The characteristics of lifestyle, motivation and personality are most often used in which market segmentation strategy? A. Behavioural B. Demographic C. Geographi... show full transcript
Worked Solution & Example Answer:The characteristics of lifestyle, motivation and personality are most often used in which market segmentation strategy? A - HSC - SSCE Business Studies - Question 5 - 2022 - Paper 1
Step 1
Identify the Market Segmentation Strategies
Answer
In this question, we are asked to identify which market segmentation strategy is most associated with the characteristics of lifestyle, motivation, and personality. The four options provided are Behavioural, Demographic, Geographic, and Psychographic.
Step 2
Assess Each Option
Answer
- Behavioural: This strategy focuses on consumer behaviors and usage patterns but does not primarily address personality factors.
- Demographic: This strategy relies on demographic characteristics (age, gender, income) and does not concern itself with lifestyle or personality.
- Geographic: This strategy segments markets based on location, which is not relevant to the characteristics mentioned.
- Psychographic: This strategy specifically uses characteristics such as lifestyle, motivation, and personality to segment the market.
Step 3