An Empirical Study on Lifestyle Segmentation on the Retail Store Attributes that are Important to Old People
Year: 2013
Type: article
Study design: Observational Study
Abstract: A market segment is a sub-set of a market made up of people or organizations with one or more characteristics that cause them to demand similar product and/or services based on qualities of those products such as price or function. Every organization engaged in a market will develop different ways of imagining market segments, and create product differentiation strategies to exploit these segments. Psychographics, or lifestyle groupings, has emerged as a robust technique for identifying distinct market categories of the 65 and older market. An activities, interests, and opinions (AIO) questionnaire provided data to identify five distinct groups of elderly consumers. Significant differences were found among the five clusters with regard to the perceived importance of various retail attributes.
Authors: V. Mahalakshmi, D. Chitra
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W2242690169