What are the five basic forms of market segmentation?
Success in marketing depends on understanding the target market. One technique used to identify a target market is market segmentation. The five basic forms of segmentation are demographic (population statistics), geographic (location), psychographic (personality or lifestyle), benefit (product features), and volume (amount purchased). >lg 6. How is marketing research used in marketing decision making? Much can be learned about consumers through marketing research, which involves collecting, recording, and analyzing data important in marketing goods and services and communicating the results to management. Marketing researchers may use primary data, which are gathered through door-to-door, mall-intercept, telephone, the Internet, and mail interviews. The Internet is becoming a quick, cheap, and efficient way to gather primary data. Secondary data are available from a variety of sources including government, trade, and commercial associations. Secondary data save time and money, but the
