A banking institution offers different investment programs for young couples families and retired individuals. What type of consumer segmentation is this?

Social class consumer segmentation

Explanation:

The type of consumer segmentation the bank offers is known as social class consumer segmentation.

Consumer segmentation can be defined as the process of dividing a target market/consumers into smaller, more defined categories such as needs, demographics, geographical location, interest, motivation etc.

Consumer Segmentation are of different types including:

• Age: under 12, 12-18, 19-25

• Gender: Male, female

• Social Class: young single, young couples, retired

• Terminal education age: 16, 18, 21 yrs

• Income

• Geographic- north, east, west, south

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