Psychographic segmentation is considered to be defined or described as the technique of market segmentations where are proper groups are accumulated and formed based on the psychological traits which help in influencing the consumption habits which are drawn from the preferences as well as the lifestyle of the people. This is primarily conducted based on how the people think about certain things and on the fact that what do the people aspire in their life so that they gain satisfaction and fulfill their needs.
The psychographic segmentation is seen to be used in the activity of marketing research as form of the market segmentation which helps in dividing or segregating the customers and the consumers into sub-groups which is based on the shared characteristics in terms of psychology that include conscious or subconscious beliefs, priorities, motivations and also the priorities in order to predict as well as explain the behaviour of the customer on the consumer.
Psychographic segmentation is considered to be the marketing strategy which helps in leveraging the data of the customers and with the foundation in the subject, psychology, then this data is seen to be used in order to create various segments of customers based on their psychological traits or characteristics.
It can be seen that the market research that you have been using has become outdates. It can be seen that you are just left to make assumptions about the customers using many different types of methods which do not cut as well as fit anymore. It can be seen that in the online marketplace and world, it is constantly becoming very difficult to understand who are the customers of your brands based on what and how they are browsing your products or services and many more. Thus, it can be seen that all the campaigns are mostly same regardless of whom the company has been targeting and thus, this is the reason the ROI of the company or the brand has been suffering as well.
Thus, in order to ensure that this problem is not faced by the companies, one needs to leverage the psychographic data for the psychographic segmentation. It can be seen that the psychographics helps in bridging the gap between the data and the consumer psychology, taking the behavioural data to the other level.
The example of traits are daily activities, the social status, opinions about various objects, food habits and many more.
A company to monitor the habits of people in terms of their sleep will be conducting a sleep survey. The survey will be consisting of many questions about the habits of the people and then will draw to conclusions about the fact that which are the habits which will impact the sleep and also the factors which has the potential of causing sleeplessness.
There are many psychographic segmentation variables. Let us look at some of the variables and see how the organisations have been using them in order to market the products or the services to their target market or segments.
There are legacy brands, for example, Rolex and Gucci who have the clear idea of whom they will be targeting. The primary aim of companies like these are to appeal the consumers coming from the upper and the elite class who focus on high prices, high fashion as well as high quality.
Lifestyle
This variable helps in making sure that they segment their customers based on the kind of lifestyle they lead and prefer.
For example, Hiker-Traveler is basically catering to people who travel for adventure and also shop keeping the environment in their mind and are seen to look for the utilitarian attributes in the services and products which are durable, waterproof, resistant of wind and many more.
Interests
Interests is considered to be a approach for psychographic segmentation. It can be seen that the way to segment the audience is to track the interest of the audiences which is the interest tribes and even the digital communities which help in making a proper subculture of a specific kind.
For example, there are many people who are interested in alcohol and the company Johnny Walker has segmented their audience by focusing on the people who like drinking whiskey and are the fans of the popular series ‘Game of Thrones’.
Some of the digital communities which are seen to be quite popular are the following:
Values
This is a psychographic segmentation which companies need to pay attention to. There are many customers who want to associate with brands that are ethical and display proper values in their operations which tend to catch the attention of the customers.
For example: The company, IKEA was seen to release an efficient sustainability report which displayed the facts as to how to make the furniture and the architectural choices more sustainable.
Personality
This is a kind of segmentation that focuses on the personality of the people.
Example: Harley Davidson has been constantly targeting the audiences who have the personality of enjoying the thrill, tough and who are adventurous.
Psychographic segmentation is seen to refer to consumers as people and also seek to understand the people as well as their activities, key values and their lifestyle.
Behavioural segmentation is said to be the measure of the thoughts and the actions of people as the consumer. The key measured observation methods are video surveillance in the store or loyalty programs and is also supplemented by various surveys.
The primary difference between the psychographic and the behavioral segmentation is the fact that the psychographic segmentation mainly focuses on the values, attitudes and the personality traits of the customers however, behavioural segmentation is seen to focus on the activities of the consumer or the customers.
Income and occupation are also a type of psychographic segmentation variables which often define the social class and status of their target customers.
Example: Most luxury products tend to appeal to the customers who belong from a high income group and mostly who have white collar jobs as they tend to be drawn towards high quality brands and products and also can afford the products.
Designer brands like Hermes and Louis Vuitton target the wealthy people who belong from high income groups.
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