What is the major problem with segmenting the market on the basis of income alone?
A) Income indicates only the presence (or absence) of the ability to pay for a product, whereas the actual choice may be based on the consumer's lifestyle, taste and values.
B) Marketers do not know the actual or total income of their customers.
C) Income does not indicate how much a consumer will actually spend on a particular product or service.
D) The market segments from segmenting this way will not be accessible and sizeable.

Question

Quizplus · Accepted Answer

Income alone cannot fully determine a consumer's buying behavior. A consumer's lifestyle, taste and values also play a major role in their decision-making. Therefore, solely targeting consumers based on their income may not be effective in reaching the desired market segment.

What Is the Major Problem with Segmenting the Market on the Basis