what are the four bases of market segmentation
Market segmentation For example, although dress size is not a standard base for segmenting a market, some fashion houses have successfully segmented the market using women's dress size as a variable.[38] However, the most common bases for segmenting consumer markets include: geographics, demographics, psychographics and behavior. Marketers normally select a single base for the segmentation analysis, although, some bases can be combined into a single segmentation with care. For example, geographics and demographics are often combined, but other bases are rarely combined. Given that psychographics includes demographic variables such as age, gender and income as well as attitudinal and behavioral variables, it makes little logical sense to combine psychographics with demographics or other bases. Any attempt to use combined bases needs careful consideration and a logical foundation.
Market economy A market economy is an economic system where decisions regarding investment, production, and distribution are based on the interplay of supply and demand,[1] which determines the prices of goods and services.[2] The major defining characteristic of a market economy is that investment decisions, or the allocation of producer good, are primarily made through capital and financial markets.[3] This is contrasted with a planned economy, where investment and production decisions are embodied in an integrated plan of production established by a state or other organizational body that controls the factors of production.