<span>Demographic
segmentation refers to age, race, religion, family size, ethnicity, income, and
education. Each of these variables can contribute to consumer markets being
segmented in different ways. Depending on what the task or group focus is,
demographic segmentation occurs depending on what appeals to which type of
demographic. </span>
Demographic segmentation is a marketing strategy that identifies group or their target customers based on characteristics. Common variables they use are as follows: - age - gender - income - occupation - family size - economic status - marital status - education attainment - ethnicity - religion
After using multiple segmentation variables they will use advanced techniques to analyze the data they gathered.
Cost management is a process or method of reducing cost of operation or production expenses of the business so as to provide cheaper goods and/or services to consumers.
It helps a firm forecast future expenditures in other to achieve their budgeting goals.
