Question
Which segmentation is based on lifestyle?
Solution
Detailed Concept Explanation Psychographic segmentation classifies consumers based on lifestyle, personality, values, interests, and attitudes.
It answers how people live and think, not just who they are. Banking example:
- Premium credit cards for “luxury-oriented” customers
- Wealth management for “risk-tolerant” investors
- A. Demographic: Age, income, education — not lifestyle
- B. Geographic: Location-based (rural/urban)
- D. Behavioural: Usage, loyalty, benefits sought
The four additional Ps of services marketing include each of the following EXCEPT:
At a recent executive meeting, the marketing manager said: "starting tomorrow, we will Tweet five times a day!" This decision is an example of a(n):
If customers perceive a bank as premium due to high pricing alone, the strategy reflects:
Which factor most directly reduces customer acquisition cost?
Profit responsibility, societal responsibility, and stakeholder responsibility are three forms or concepts of:
Which of the following is a psychological factor influencing consumer behaviour?
Value-based pricing is determined mainly by:
A bank analyzes transaction data to predict which customers may close accounts soon. This is an example of:
Which CRM metric indicates percentage of customers leaving bank annually?
Components of a consumer's income include:
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