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Below is a summary table of 12 consumers. Your task is to split them into segments, based on their characteristics in the information provided.
Below is a summary table of 12 consumers. Your task is to split them into segments, based on their characteristics in the information provided. Consumer 1 Age 19 Where They Live Rural Marital Status Social Class Loyalty to Brands Price Single Lower Low Medi 2 47 Suburbs Married Lower Low High 3 66 Suburbs Married Middle Low High 4 23 Rural Married + children Middle Low High 5 64 Rural Married + children Lower Medium Medi 6 25 City Single Middle Medium Medi 7 35 Suburbs Single Middle Medium Medi 8 50 Suburbs Married + children Upper Medium High 9 36 Suburbs Married + children Middle High Low 10 50 City Married Middle High Medi 11 53 Suburbs Single Upper High Low 12 70 City Married Upper High Low Questions: 1. Identify three market segments from the information provided above, using: A. Psychographic/lifestyle variables as the segmentation base/s B. Behavioral variables as the segmentation base/s C. Geographic and/or demographic variables as the segmentation base Hint: There are eight characteristics for each consumer. Two are psychographic/lifestyle variables, three are behavioral variables, and three are geographic/demographic variables. Start by identifying which variables are in each of these categories. 2. Choose the segmentation approach (of the 3) that you think works best for these consumers (this market). That is, the best approach in this market is... psychographic, behavioral, OR geographic/demographic? State why? 3. For the segmentation approach you have chosen, divide this into 3 actual segments (with a description of each) ***Hint, select only one between psychographic, behavioral and geographic then for that one create 3 segments within it and provide a description for each. 4. Which consumers using the numbers above would you put in which of the 3 segments you categorized in #3.
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