“Lifestyle and psychographic segmentations are very complex to understand and implement. Companies make heavy investments in consumer research to identify such segments, their behavior, their potential etc. Despite all the hard work there is always a chance that such segmentation strategies might fail. On the other hand, demographic segmentation id much simpler, cost effective and easy to implement, still marketers prefer the former one...” What are your views on the above statement? Discuss in detail.
“Lifestyle and psychographic segmentations are very complex to understand and implement. Companies make heavy investments in consumer research to identify such segments, their behavior, their potential etc. Despite all the hard work there is always a chance that such segmentation strategies might fail. On the other hand, demographic segmentation id much simpler, cost effective and easy to implement, still marketers prefer the former one...” What are your views on the above statement? Discuss in detail.
Contemporary Marketing
18th Edition
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Louis E. Boone, David L. Kurtz
Chapter9: Market Segmentation, Targeting, And Positioning
Section9.8: Positioning Strategies And Value Propositions
Problem 1LO
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“Lifestyle and psychographic segmentations are very complex to understand and
implement. Companies make heavy investments in consumer research to identify such
segments, their behavior, their potential etc. Despite all the hard work there is always a
chance that such segmentation strategies might fail. On the other hand, demographic
segmentation id much simpler, cost effective and easy to implement, still marketers prefer the
former one...”
What are your views on the above statement? Discuss in detail.
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