What approach would be used to analyze consumer segments based on statistical data like demographics?

The approach used to analyze consumer segments based on statistical data like demographics is demographic analysis. This method focuses specifically on the characteristics of a population, such as age, gender, income, education level, and other statistical data, to understand different groups within the consumer base.

By examining these demographic factors, businesses can identify distinct segments of consumers who may have varying needs and preferences. This targeted understanding enables companies to tailor their marketing strategies and product offerings effectively to meet the specific demands of different segments.

Other related approaches may also analyze consumer behavior and market trends, but demographic analysis uniquely concentrates on the statistical aspects of consumer segments, making it the most appropriate choice for understanding these specific characteristics.