Describe the four general bases that are used to segment consumer markets.
What will be an ideal response?
The four general bases of segmentation are: (1) geographic segmentation, which is based on where prospective customers live or work (region, city size); (2) demographic segmentation, which is based on some objective physical (gender, race), measurable (age, income), or other classification attribute (birth era, occupation) of prospective customers; (3) psychographic segmentation, which is based on some subjective mental or emotional attributes (personality), aspirations (lifestyle), or needs of prospective customers; and (4) behavioral segmentation, which is based on some observable actions or attitudes by prospective customers - such as where they buy, what benefits they seek, how frequently they buy, and why they buy.
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