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
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