Define demographics, psychographics, and market segmentation.

00 words

• Define demographics, psychographics, and market segmentation.
• Using the scenario (banking) as an example, identify and analyze (at a summary level) 2 potential target segments using demographics and psychographics that may meet the bank’s high-level strategic goals.
• Select 1 segment, and illustrate why this is the best segment to select based on a detailed discussion of needs, wants, and psychographics of that segment and how they align with achieving the bank’s long-term strategic goals.