- Demographic Segmentation. …
- Behavioral Segmentation. …
- Psychographic Segmentation. …
- Geographic Segmentation. …
- Stage of Life. …
- Opinions, Interests and Hobbies.
Lifestyle is one of the more recent and significant sets of variables that are used to comprehend consumer behavior. The general definition of lifestyle is that of the potential customer. It is widely regarded as a way to match market products with specific lifestyle groups (Sathish Customers are questioned about what they do, how they spend their time, their priorities, values, opinions, and general worldviews, in addition to the products they like, where they live, and their gender. Researchers hired by Procter & Gamble: Where do they go, who do they like to talk to, and what do they talk about when they’re not working Other businesses have compensated individuals to keep a daily journal of their routines and activities.
In consumer marketing, is regarded as a psychological factor that can affect how consumers make purchasing decisions. The way a person lives can be broadly referred to as their lifestyle. In sociology, a person’s lifestyle frequently reflects their attitudes, values, or worldview. A lifestyle is a way to develop a sense of who you are and to produce cultural symbols that are meaningful to you.
The goal of creating marketing campaigns to persuade consumers is to match the product’s position with the lifestyle characteristics of the target market. Therefore, factors like consumer interest in hunting, attitude toward climate change, and strongly held beliefs about fair-trade goods can be used to both better understand the market and its behavior and effectively position products.
The lifestyle concept can be applied in a useful way to consumer shopping preferences. Different customers approach shopping in very different ways. They differ in their perspectives on shopping, as well as in their levels of interest in it. How do people evaluate and select among their options once they are aware of their options, and in particular, how do people select among different product brands?
Although demographics are helpful, advertisers frequently need to take even more extreme measures. Traditional demographic categories (like gender, age, and income) only give a general idea of the attitudes and preferences of various groups, so marketers frequently assign consumer groups labels that also hint at their way of life and motivations.
involves describing a market segment based on a set of descriptors, such as traits, values, and personality. We also use AIO’s – to define a psychographic profile. The majority of students are aware of market segmentation in terms of geographic (specific place-based marketing) and demographic (specific information gathered from secondary research sources relating to age, income, education level, family status, etc.) aspects. ). However, psychographic segmentation looks at consumers in relation to their motivations, values, interests, passions, lifestyle decisions, and even the media they consume. The VALS (Values, Attitudes, and Lifestyles) framework is one of the most popular methods for categorizing people based on psychographics. A better understanding of consumers is possible by using VALS to combine psychographics with demographic data like marital status, level of education, and income.
Notkin further categorizes PANKs by identifying “Aunts by Relations” (93%) and “Aunts by Choice” (57%), all of whom place a high value on involvement in a child’s life. In 2013, Euromonitor reported that as of 2010, 42. 6 per cent of women in the U. S. between 15-44 were childless (up from 40. 1% in 2002): while some women are childless by choice or by circumstance, many women are delaying or postponing having children until later in life.
Introduction to Psychographics
Benefits of using consumer psychographics
Unlike demographic-based marketing, consumer psychographics gives businesses the chance to reevaluate who their ideal customer is. People with similar demographics frequently have varying tastes and shopping habits, which can be better explained by their individual beliefs and pastimes. Companies can concentrate on these aspects of identity that have much greater predictive power by using consumer psychographics. They can identify segments of their clientele that they’ve ignored and come up with alternate strategies to connect with more people who share their interests in the future.
For example, a business that conducts psychographic research may discover that a third of its customers rank the same television program as their favorite. The business, which previously may have only considered demographic data, is now aware that it should try to understand what a viewer’s interest in this show says about their shared values and tastes. The business is also aware that it might succeed in its marketing efforts to the remaining viewers of the show.
What is consumer psychographics?
Customer psychographics, also known as buyer personas, is an analytical tool that combines the knowledge of marketing and psychology to produce more precise customer profiles. It differs from the outdated demographic strategy that marketers previously employed, which focused marketing efforts on an audience’s age, gender, ethnicity, and level of education. Companies today seek to comprehend the typical values, viewpoints, and lifestyles of their typical customers. They investigate these facets of consumer identity using consumer psychographics, after which they modify their marketing strategies to reflect these findings.
Types of psychographic segments with examples
Here are a few typical psychographic categories with examples that you might use when creating your next marketing campaign:
Depending on their income, a person’s social class indicates where they stand in society. It’s important to remember that there are people in every social class, so you shouldn’t generalize about your audience before you know how social class affects who they are. You can discover how the cost of your product influences which social classes are most likely to purchase it by researching the purchasing habits of various social classes.
A fashion brand, for instance, wants to produce clothing for various market segments based on social class. They speak with shoppers of various income levels to learn where they shop and how much they typically spend on each article of clothing. The business introduces two distinct lines, each with a different price point and only accessible from one particular retailer.
A person’s social status describes their place in society as a result of their occupation, level of education, and income. Because some respected professions require extensive education but don’t pay well, social status is a useful psychographic category. Conversely, many high-paying jobs arent considered prestigious. This means that people who socialize in groups of a certain status might have shopping habits that are very dissimilar from those of most of their friends and acquaintances.
Example: A marketing campaign is being planned for the launch of a meditation app. It is aware that the majority of those who would download it are highly educated and work in lucrative fields like medicine, law, and technology. Despite having the same social status, many app users may work in relatively lower-paying professions like social work or counseling, so it doesn’t want to use income as the primary data point for the campaign.
Religion is a crucial psychographic factor because it represents many consumers’ most ingrained beliefs. Religious customs and holidays can have a significant impact on a variety of consumer behaviors, which is something that various businesses can take advantage of. Religion frequently has an impact on people’s preferences for things like clothing, food, entertainment, and educational services.
Example: A snack company is launching a line of chips in various flavors. Since all the products are vegetarian, they could all be kosher certified, but doing so requires a one-time investment. To ascertain whether a kosher certification would result in a material market expansion, the company conducts research into the religious populations in its main distribution areas.
Political opinions, for example, can predict a wide range of consumer characteristics. Businesses that comprehend the typical customer’s viewpoint can make sure their branding initiatives reflect the views of their target market. Additionally, they may run advertisements in physical locations and on websites that are frequently visited by people with a particular set of opinions.
Example: A fishing gear company is preparing its marketing budget. According to its psychographic research, the majority of its clients have more conservative political philosophies. The business invests in advertisements on news channels and websites that support those points of view.
A variety of interests, preferences, and purchasing habits make up a person’s lifestyle. Because it forecasts interest in numerous products and services rather than just a few, it is a helpful consumer psychographic. Companies can collaborate with one another to profit from the lifestyles that already go well with their individual products.
Example: A company that sells energy drinks to athletes is aware that the majority of its customers live active lifestyles that include going to the gym and watching sports on television. It contacts a number of gym franchises and offers them a very low wholesale price in exchange for the gyms’ agreement to only sell its energy drinks. The business also starts supporting a number of well-known sports teams. The brand is now frequently interacted with by drinkers, and those who didn’t previously purchase the beverage learn more about it.
Interests and hobbies
Certain pastimes and interests have a significant impact on how people live and how they spend their money. Some interests or pastimes matter more than the more conventionally significant ones, like religion or political inclination, as a psychographic factor. This occurs frequently because people’s interests and hobbies enable fervent communities where they want to spend their free time and money. While sharing a profession or religion with someone doesn’t automatically imply that you want to spend your weekend in the same way as them, hobbies and interests do just that.
A computer monitor manufacturer, for instance, is aware that many of its customers enjoy playing video games. According to psychological studies, gamers are the consumer group that upgrades monitors the most frequently and spends the most money on the best products. The business advertises to this community by supporting video game competitions, producing reviews and tutorials of video games, and growing its selection of gaming monitors. It gains popularity among players and experiences a profitable return on investment.
Many customers make an effort to support businesses and products that uphold their values. Importantly, if a company’s values align with theirs, customers are frequently willing to pay more for an item that they could purchase for less. Concerns about responsible manufacturing and ethical sourcing of materials are frequently reflected in consumer values.
An illustration would be a furniture company that is aware that many of its clients place a high value on environmental sustainability. The brand stops buying wood from vulnerable ecosystems in order to maintain customer loyalty. Due to the significant price increase that follows, the business decides to launch a marketing campaign to highlight its new dedication to sustainability, which boosts sales.
Tips for using consumer psychographics
To use consumer psychographics in your favor, consider the following advice:
You can streamline your consumer psychographic research by speaking with those who have already endorsed your company directly. Speak with customers who frequently patronize your business in informal interviews, or organize a focus group in a more formal setting and pose a set of predetermined questions. Inquiring about someone’s personal values is important, but you can also mention that you want your company to represent the interests of the clients it serves. Many people would value the chance to discuss what influences their purchasing decisions.
Study online behavior
If you run a mailing list or host a business website, research what content and communications get the most attention. You might find that particular themes, pictures, or forms of content speak to your audience more than others. You can start customizing your products and marketing to embrace the interests that your audience has as you gain a clearer understanding of their shared preferences. For instance, a sports retailer may discover that customers are most interested in its promotions related to football. Then, it might gain from boosting its collection of football shirts and gear.
Create relevant content
You must produce content to go along with your brand’s authentic voice. Your original content should be closely related to the results from your psychographic research, whether it be for social media, video-sharing websites, or advertising campaigns. Remember that how you represent a person’s identity when they first come into contact with your brand matters just as much as the products you sell.
Align your email marketing
One of the best methods for companies to communicate with customers is email marketing. Your email marketing can become a psychographic strategy that surprises and delights your customers by making a few small adjustments from a generic business practice. An outdoor recreation retailer, for instance, could send out promotions on occasions like Earth Day or when the seasons change and people are eager to spend time outside. Instead of distributing newsletters on a variety of subjects, they could disseminate information about the activities that the shop’s customers find to be most engaging.
What are 4 examples of Psychographics?
The study of consumers’ psychographics is based on their AIOs (activities, interests, and opinions). It goes beyond merely categorizing people according to their age, gender, or race. Understanding the cognitive factors that influence consumer behavior is the goal of psychographics.
What are 3 types of Psychographics?
- Lifestyle. A person’s lifestyle generally refers to their everyday activities.
- Interests. Any activity that a person chooses to engage in during their free time is considered to be a part of their interests.
- Personality. …
- Values. …
- Attitudes, beliefs, opinions. …
- Social status.