Which segmentation method divides the market based on income, education, and occupation?

The segmentation method that divides the market based on income, education, and occupation is socioeconomic segmentation. This approach focuses on the social and economic factors that influence consumer behavior. By analyzing these aspects, marketers can tailor their strategies to target specific groups that share similar characteristics regarding their financial status and educational background. This allows for more effective communication and product offerings that resonate with the values and needs of different socioeconomic tiers.

While demographic segmentation encompasses age, gender, family size, and other related criteria, socioeconomic segmentation specifically hones in on the economic circumstances and educational attainment of consumers. Similarly, geographic segmentation would categorize consumers based on their physical location, and sociocultural segmentation focuses on the cultural and social influences on consumer behavior. These other methods do not capture the intricacies of income, education, and occupation as effectively as socioeconomic segmentation does.