What term describes socioeconomic groups, characterized by age, sex, income, occupation, and education, that comprise a market niche?

What term describes socioeconomic groups, characterized by age, sex, income, occupation, and education, that comprise a market niche?

• A. Demographics
• B. Market segmentation
• C. Socioeconomic strata
• D. Consumer profiles

Answer: (A)

Demographics describe the statistical characteristics of a population—age, sex, income, occupation, and education. In marketing, these attributes are used to group people into market segments that share similar needs, preferences, and purchasing power, forming a market niche. This makes demographics the precise term for those socioeconomic groups defined by those traits, since it captures the data you use to identify and target specific consumer groups. Market segmentation is the broader process of dividing a market, but the description of the groups themselves using those variables is demographic information. Socioeconomic strata refers more to social class levels, and consumer profiles are illustrative portraits of typical buyers, not the formal label for these population groups.

Demographics describe the statistical characteristics of a population—age, sex, income, occupation, and education. In marketing, these attributes are used to group people into market segments that share similar needs, preferences, and purchasing power, forming a market niche. This makes demographics the precise term for those socioeconomic groups defined by those traits, since it captures the data you use to identify and target specific consumer groups. Market segmentation is the broader process of dividing a market, but the description of the groups themselves using those variables is demographic information. Socioeconomic strata refers more to social class levels, and consumer profiles are illustrative portraits of typical buyers, not the formal label for these population groups.