Question
Download Solution PDFIn which of the following segmentation criteria? the predictability of consumer choice behavior is the highest?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Behavioural
Consumer behavior is a study of how individuals make decisions to spend their available resources (time, money, and effort) or consumption-related items.It is necessary to make pricing policies. Segmenting consumers based on their buying capacity will help marketers determine eligible consumers and achieve better results
Key Points
The predictability of consumer choice behavior by various segmentation criteria is as follows:
- Psychological:
- It is a type of targeting that allows businesses and marketers to divide customers based on psychological traits that may influence their buying behaviors
- the most significant one is that it can’t tell you everything you need to know about your audience because you have limited information.
- Unfortunately, we may not get enough responses to tell you about each segment.
- In addition, psychographic segmentation can be easily misunderstood because it doesn’t use quantitative data, so marketers may accidentally make incorrect assumptions about customers.
- Demographic :
- It s a precise form of audience identification based on data points like age, gender, marital status, family size, income, education, race, occupation, nationality, and/or religion,
- This helps in organizing your customer relationships, enhancing user experiences, and improving conversions.
- Geodemographic :
- Geodemographics are consumer segmentation models created by aggregating demographic attributes within a specific geographic area.
- These segments are not as easily defined with traditional demographic data, which provides raw census counts and requires further analysis for lifestyle insight.
- The reaction from market segments to marketing plans or strategies is typically very predictable.
- Behavioural:
- It is the process of grouping customers according to their behavior when making purchasing decisions.
- Behavioral segmentation drives smarter decisions about how to best allocate time, budget, and resources.
- Marketers can identify and map the most profitable segments based on the consideration of these variables.
Last updated on Jun 6, 2025
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