Question

What is the difference between the demographic segment and the sociocultural segment in the list of general environment factors that impact the strategy and performance of a firm? Provide specific examples to support your discussion.

Answer 1

Answer:-

The demographic segment comprises of factors, for example, age, sexual orientation, salary, instruction, locale among others. These factors command the assurance of the demographic segment of any item or administration.

The demographic factors signify the data about a person that will assist with grouping the person as per the information accessible. This is the most essential kind of distinguishing proof generally utilized for order of populace into different segments.

The sociocultural segment comprises of factors that fluctuate according to the way of life and social properties of the area. These properties are the decisions that the individuals have decided for themselves and subsequently speaks to the enthusiasm of the segment.

individuals in such segments are energetic about a specific angle or cause and would concentrate on keeping up business as usual. Rather than demographic factors which are insignificant recognizable proof of an individual these sociocultural factors characterize the individual and the individual's convictions and consequently are increasingly significant for advertisers to comprehend.

Exanpke of Demographic Segment:-

Demographic segmentation dependent on pay: Income is additionally one of the significant factors, as this variable chooses the sum at which the item is estimated. A large portion of the item makers remember the salary demographic segment while putting a sticker price on the item.

Instances of sociocultural segment are position, religion. These factors if not took into account by the business have the intensity of making enormous misfortunes for the business.

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