How useful is social class as a variable for segmenting consumer markets? Explore
Date Submitted: 07/22/2004 06:58:45
Category: / Business & Economy / Marketing and Advertising
Length: 3 pages (780 words)
Category: / Business & Economy / Marketing and Advertising
Length: 3 pages (780 words)
How useful is social class as a variable for segmenting consumer markets? Explore.
In the early days of segmentation, according to Schiffman, it was not unusual to apply only one segmentation criterion, e.g. demographic segmentation. Today marketers have realized that it is to simplified to apply only one criterion for segmenting complex markets. Therefore, it is common to combine several criteria to create rich and comprehensive segmentation profiles in order to find the most …
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…if marketers use social classes in targeting their consumer markets, they will be able to easily identify their target, understand their consumer behavior, minimize risk for new products and services and hence can organize successful marketing strategies in which they can sell their products in a better way and can gain more profit. They will also be able to know about the needs of their customers and hence can serve them better in the future.
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