Final answer:
The market segmentation described in the question is called demographic segmentation. It involves dividing the market into different categories based on characteristics such as age, income, education level, ethnicity, and sex.
Step-by-step explanation:
The market segmentation described in the question is called demographic segmentation. Demographic segmentation involves dividing the market into different categories based on characteristics such as age, income, education level, ethnicity, and sex. This type of segmentation helps businesses target specific groups of consumers who share similar demographic traits. For example, a company may use demographic segmentation to create marketing campaigns targeted towards young adults, high-income earners, or specific ethnic groups.