Dividing the market by age, income, and education level is segmentation.
Question
Dividing the market by age, income, and education level is segmentation.
Solution
The division of the market by age, income, and education level is referred to as "demographic segmentation". This type of market segmentation divides the market into groups based on variables such as age, gender, income, occupation, education, religion, race, and nationality. It is one of the most commonly used forms of segmentation among businesses due to the ease of collecting demographic data.
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