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What are the five basic forms of consumer market segmentation?
ADemographic, geographic, product, benefit and volume
BDemographic, industrial, psychographic, price, volume
CDemographic, geographic, psychographic, price, benefit
DDemographic, geographic, psychographic, benefit, volume
Answer & Solution
Correct answer: D. Demographic, geographic, psychographic, benefit, volume
1. The five basic forms are demographic, geographic, psychographic, benefit and volume.
2. Demographic uses population statistics and geographic uses location.
3. Psychographic uses personality or lifestyle and benefit uses what the product does.
4. Volume uses the amount purchased, so price and product are not among the five.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.5 Market Segmentation_
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