Introduction Of Psychographic Segmentation And The Market...

Introduction of Psychographic Segmentation Psychographic segmentation is a market segmentation strategy that divides the market into groups based on social class, lifestyle, and personality characteristics. Psychographic segmentation is based on the theory that the types of products and brands an individual purchases will reflect a person’s characteristics and their patterns of living. Social class is one of the three key variable for these type of company research purposes, which divides the population into groups based on their individual or household income. Marketers segment social class for the promotion advertising and promotion of services and products such as clothes, home furnishings, and leisure activities. For instance, someone of the lower social class would be able to eat McDonald’s rather than eating at Ruth Chris every weekend because McDonald’s reasonable prices. Lifestyle can be defined as how someone is currently living. In marketing, lifestyle characteristics are known to influence the buyer decision process for consumers. Marketers are known to segment markets according to consumer lifestyles. Marketers promote their products as reflections of consumer lifestyles. For example, Kellogg’s’ promote gluten-free, nourishing products with wholesome ingredients that are ideal for someone living a healthy and active life. Personality elements can be used to segment markets as well. Marketers give products personalities that match consumer personalities inShow MoreRelatedChery a Case Study of Market Segmentation, Targeting and Market Positioning1103 Words   |  5 PagesCHERY A CASE STUDY OF MARKET SEGMENTATION, TARGETING AND MARKET POSITIONING Introduction Built in 1997 Chery is one of the famous Chinese car manufacturers aiming at building ‘independent Chinese brand’ and is now on its way to be international. 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