Market Segmentation by Age Group
Market Segmentation by Age Group refers to the practice of dividing a target market into distinct groups based on the age range of individuals. This strategy allows businesses to tailor their marketing efforts and product offerings to meet the unique needs and preferences of different age demographics. Age groups commonly used in market segmentation include Generation Z (born after 1997), Millennials (born between 1981 and 1996), Generation X (born between 1965 and 1980), Baby Boomers (born between 1946 and 1964), and the Silent Generation (born before 1946).