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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. Geographic D... 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
To answer this question, we must first identify the four types of market segmentation strategies presented:
- Behavioural Segmentation: This targets consumers based on their behavior, including their purchasing patterns, brand loyalty, and product usage.
- Demographic Segmentation: This categorizes the market based on demographic factors such as age, gender, income, and education.
- Geographic Segmentation: This divides the market based on geographical locations, such as countries, regions, or cities.
- Psychographic Segmentation: This focuses on the psychological aspects of consumers, including their lifestyles, motivations, and personalities.
Step 2
Select the Correct Strategy
Answer
Given that the question emphasizes lifestyle, motivation, and personality, it is clear that these factors align most closely with:
- Psychographic Segmentation (D).
This type of segmentation delves into the mindsets and values of consumers, allowing marketers to tailor their strategies effectively.