For example, if you wanted to open an upscale restaurant in a. In other of marketing mix consequences of using standard words, aio levels of consumers are given useful information psychographic segmentation approach. Okayyouve collected all of this information on your target audience, so whats next. Tomato soup lovers are different to chicken noodle soup, and the marketing can be tailored to connect better with those customers. Generational marketing psychographics are very important in todays world. Psychographics usually build on demographics, which look at groups based on quantifiable things like race, age, marital status, income, etc. If your business is up and running, you can gain psychographic information by surveying people who have already bought your products or services. Marketers today are astute at using psychographic lifestyle profiling to market products to. Youll also have a chance to take a brief quiz after the lesson.
Psychographics have been applied to the study of personality, values, opinions, attitudes, interests, and lifestyles. Pdf psychographic segmentation of young adult consumers a. How to use psychographics to improve your marketing. Psychographics can be the difference between a great rebrand or one that falls short in terms of customer satisfaction. The evidence is overwhelming that the covariates are related to brand use in an identical way. Psychographic segmentation capitalizes on this by dividing customers based on psychological factors, which include behaviors, personalities, lifestyles, and beliefs.
That deep understanding is found in psychographics. Consumers are looking for information about the product they want. No matter what kind of marketing strategy your brand uses, psychographic data can enhance the results and get you more paying customers, when done right. Knowing your brand or product is the most important thing when it comes to marketing to any generation. Obviously, as smiths masterful article explains, psychographics is the greatest thing that ever happened to marketing in general and conversion optimization in particular. Pdf attracting consumers by finding out their psychographic. Learn all about psychographic segmentation definition, variables, examples, and advantages to implement it. Pdf consumer marketers have realised that geodemographics seldom. To investigate various factors that influence the use of advertising among the college segment of generation y, a survey was administered to a random sample of 368 college students. Develop strong positions in spealized market segment.
Pdf with growing competition, loyal customers have become the key to the companys success. What are psychographic variables business plan hut. Learn how surveys can collect psychographic data, and how this practice can increase marketing roi. Market segmentation is one of the oldest marketing trick in the books. A psychographic analysis of generation y college students. In big data era, the research paradigms of marketing service have been. Their demographic information might look like this. Page 2 attitudes and psychographic data audience guide attitudes and psychographic data target consumers by their state of mind to more successfully target the right individuals and engage them with messages that will resonate, marketers need to look into the consumers heart and mind. Psychographics are just as important for marketers as.
Psychographic segmentation is a market segmentation technique where groups are formed according to psychology, lifestyle, personality, social status, daily activities, interests, and opinions. Literature collected on the psychographic characteristics of the millennial generation, and other generations for contrast, is employed to understand the target market, which is the overarching goal of this study. Psychographic data consist of information about a persons values, attitudes, interests and personality traits. Because this area of research focuses on activities, interests, and opinions, psychographic factors are sometimes abbreviated to aio variables.
People are slammed with countless ads and choices throughout the day. How to obtain psychographic data of your target audience. As jeremy smith remarked, the term psychographic sounds like voodoo. Generation y is regarded as the elusive new youth market, whose members are as resistant to advertising efforts as were members of generation x before them. Psychographics is the qualitative methodology of studying consumers based on psychological characteristics and traits such as values, desires, goals, interests, and lifestyle choices. Psychographic segmentation is the next frontier for health care, said david homan, director of marketing and innovation and a shareholder at mcgohan brabender. Concentration of marketing energy or force is the essence of all marketing strategy, and market segmentation is the conceptual tool to help achieve this focus. Our psychographic audiences offer marketers the ability to.
Psychographic data is the latest hot ticket in the marketing world. Psychographic segmentation consists of dividing a market based on consumer personality traits, lifestyles, interests, attitudes, and values. Attitudes and psychographic data environment behavioral greens reach consumers likely to think and act green. Market segmentation creates subsets of a market based on demographics, needs, priorities, common interests, and other psychographic or behavioral criteria used to better understand the target audience. Psychographic segmentation of tourists as a predictor of. Pdf businesses may not be in a position to satisfy all of their customers, every time. In this lesson, well take a look at what is meant by psychographics in marketing, some examples, and how they can be applied to your marketing.
The descriptors comprise demographic and general psychographic variables frequently used in segmentation studies and studies of consumer purchase behavior. Brand loyalty has been a central structure for marketing. Small business marketing strategies allinone for dummies. Marketers would be able to devise more effective strategies to tap this. Moreover, each social class has their own preference when purchasing, cars, boats, clothes, education, homes, furniture, reading materials and the list goes on. Psychographics segmentation benefit segmentation usage rate segmentation. I always find the psychographic soup study a great reference for this. At its core, market segmentation is the practice of dividing your target market into approachable groups. Psychographics look at groups of people based on their attitudes or beliefs. The effectiveness of demographic and psychographic. Surveys that ask these types of questions are vital to market researchers, who often use them to gain information. With the customer population and preferences becoming more wider, and the competitive options becoming more available, market segmentation has become critical in any business or marketing plan.
By tracking microconversions, you can monitor your users behavior and psychological tendencies. Psychographic variables the consumers state of mind give information about aios. How to find psychographic data and turn it into customer. After completing this chapter, student should be able to. From segmentation theory to successful marketing practice article pdf available in journal of marketing management april 20093. There are certain characteristics and psychological qualities that make you, you. Identifying these important factors can be a powerful way of marketing the same product or.
This is an exciting and different way to engage consumers in their health care. By integrating psychographic data, mcafee says hes learned the calltoaction he puts in each of the credit unions marketing pieces is highly dependent on the members ability to hear it. In essence, compiling psychographic data builds a profile about how a person views the world, the things that interest them and what triggers motivate them to action. What demographics and psychographics mean for small. When you understand these kinds of psychographic differences, online marketing tools will make your insight actionable in a way that was nearly impossible before the. Psychographics in marketing focus on understanding the consumers emotions and values, so you can market more accurately.
Many believe you can get a full understanding of your customers by studying demographics e. All you need to do is learn it, understand it, and act on it. While rate might interest a member who is in the payoff stage of life, pricing may be more appealing to someone in the acquisition phase. The predictive relationship of a large and comprehensive set of personal descriptors to aspects of product and brand use is examined. Businesses, both big and small, are leveraging this information to create better targeted materials. Lo2 describe the process used and information needed to identify and select target markets. There are 4 types of market segmentation which are most commonly used. Lets say that youve spent the time, energy, and money to gather all of the psychographic information about your audience. Since 1991, india is emerging as a key destination for marketers from across the globe. In this lesson, youll learn about psychographic segmentation in marketing and be provided some examples. Pdf the use of demographic and psychographic segmentation to. The use of psychographic information can reduce marketing risk and helps minimize the difference between product characteristics and consumer needs. The information is there powerful, gamechanging, and remarkable in the depth of understanding that it conveys.
It is believed that the indian metropolitan consumers are fairly homogeneous in nature. These factors are then analyzed to predict how you, the customer, will respond to focused marketing campaigns. You have the tools to create valuable, realtime psychographic customer intelligence by leveraging your behavioral data. Using survey data to perform psychographic segmentation. A buyer persona is a profile of a typical customer based on real data. In this paper, we report the results of a survey conducted amongst 560 respondents in the five metropolises. Identify the current and potential wants that exist in the market. To obtain this information about your customers, consider including a quick poll as part. Before discussing psychographic or lifestyle segmentation which is what most of us mean. They have negative attitudes towards products that pollute and incorporate green practice into their lives on a regular basis. Psychographic segmentation 5 factors for marketing. Youre probably already familiar with a few of them. In fact, people launch products keeping the market. Psychographic variable social class the social class in which consumers are grouped will dictate, in general, the products and services they buy.
Think greens reach consumers who are likely to think green but do not necessarily follow through on those. Market segmentation and target marketing pearson canada. Psychographic segmentation is a method used to group prospective, current or previous customers by their shared personality traits, beliefs, values, attitudes, interests, and lifestyles and other factors. You need this information to resonate with your audience. This is moving way beyond generational segmentation, he said. Before discussing psychographic or lifestyle segmentation which is. Identify the characteristic that distinguish among the segments 3. The use of demographic and psychographic segmentation to creating marketing strategy of brand loyalty article pdf available in scientific annals of economics and business 661. Psychographics and small business marketing dummies.
At face value, the word psychographic itself can be a bit misleading. However, little work of relevance has been undertaken to understand the indian consumers. Psychographic segmentation divides a market by social class, lifestyle, or the shared activities, interests, and opinions of prospective customers. How to gather psychographic information from your audience. Both are important in the development of effective marketing strategies. Jordan brian east tennessee state university follow this and additional works at. You now have an accurate understanding of who they are, how they behave, and why they behave the way they do. It focuses on the definition, basis of market segmentation and issues related to market segmentation in detail. We live in a world that is constantly innovating, growing and changing. How to use psychographic data in your marketing strategy. Psychographics is a qualitative methodology used to describe traits of humans on psychological attributes. Psychographic segmentation of indian urban consumers.
Psychographic segmentation in tourism marketing research can be an important tool in ascertaining why tourists choose destinations and what are their expectations and perceptions of a holiday experience. This research paper will provide information about the knowledge gap and will show a path for future research in the area of market segmentation, which. Analysis of this literature, in relation to information gleaned about psychographic. School of information management, central china normal university, wuhan. Equipped with the above information and the means to collect it, you can build a great psychographic marketing campaign to increase sales, engagement, or customer loyalty. Demographic and psychographic variables based on the differentiation of consumer brand preference were used to elicit the characteristics of market segments.