socio-economic group


Also found in: Dictionary, Thesaurus, Medical, Acronyms.
Related to socio-economic group: socioeconomic group, Economic class

socio-economic group

the potential BUYERS of a consumer product grouped together in terms of certain common personal and economic characteristics, for example, the nature of their jobs (professional, labourer), level of income (high, low), age (old, young), etc. Such groups are likely to differ in the level and pattern of their spending and thus can be used as the basis for identifying MARKET SEGMENTS that then can be exploited by targeting ‘customized’ products to meet the particular customer requirements of those segments.
Full browser ?