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Understanding Psychographics in Marketing

psychographicsThe concept of psychographics came into full use in light with the Cambridge Analytica during the 2016 US presidential election. Some refer it as the dark art of marketing. With psychographics, marketers can change the way they understand and influence decision making. As far as psychographics is concerned, it is the study of consumers based on their activities, opinions, and interests. It puts its focus on understanding the cognitive attributes such as customer emotions, attitudes, and values among other psychological factors.

Marketers, researchers, and advertisers can leverage this approach to create psychological profiles of customers. These profiles help researchers understand consumer motivations and opinions and thus know the kind of messaging tactics to use to drive their messages. In studying consumer habits and coming with profiles, marketers move beyond blanket advertising such as television ads, direct mails, and billboards and achieve a more targeted approach.

 

Psychographic Profile

A psychographic profile contains information about a person’s hobbies, interests, lifestyle choices and emotional triggers among other data. This information could provide insights on why some people may buy a certain product, vote in a certain way, and support a given course and much more.

 

How Psychographic information is collected

There are different ways to gather and analyze data that is collected through psychographics. Some of the methods used under this technique include interviews and traditional focus groups, set-top box viewing data, surveys and questionnaires, psycholinguistic dictionaries, website analytics, browsing data, social media likes, tweets and clicks, and third-party analytics. From each data source, researchers can get insights into consumer preferences either indirectly or directly.

There are different ways to group psychological characteristics. The first one is personality traits. Brands, services, and products all have personalities that are created intentionally or without intent. Marketers often create these personalities to match the personality traits that are most attractive to their targets and market.

Lifestyle

LifestylesWe all have different lifestyles with all these reflecting different factors including the stages making our lives. Our needs and wants are based on our lifestyle. Segmentation by lifestyle considers where a client is in terms of the lifecycle as well as important things they consider in their life.

 

Opinions, Interests, Attitudes, and Hobbies

This categorization looks at factors such as opinions on issues including politics, gender, religion and issues on the environment. It can also look at issues to deal with sports, arts, and culture as well as recreational activities. You look at the opinions and interests your market segments hold as well as the activities that they engage in.

 

Social Status

A social status is a segmentation approach crosses other important aspects such as income strata, stage of life and preferences. There is always a strong psychological component in one’s need to maintain a certain social class or standard. This approach can be a powerful way of segmentation. It can be very fruitful when there is a direct connection between one’s interest and consumption of products and services. Other ways of segmentation include the degree of loyalty, occasions among others. These strategies can be used to develop a business and marketing strategy.

 

 

 

 

Introduction to Market Segmentation

market segmentationMarket segmentation entails research used to determine how an organization divides its customers into smaller groups or cohorts based on certain characteristics such as age, behavior, income, personality traits among others. These segments are then used to optimize products and enhance advertising to different customers.

Market segmentation is among the most effective tools available for marketers to target a specific group. It eases the marketer’s work to personalize campaigns and put the focus on only what is necessary. Members of these small groups share similar characteristics and have a lot of aspects in common.

 

Bases of market segmentation

Segmentation is simply dividing groups into smaller groups based on some basis. This basis may range from aspects such as age, gender among others. It can also be based on psychographic factors such as interest, attitude, and values among others.

Gender is among the simplest way of segmentation, yet very important. This is because the interests and wants of male versus female vary greatly. Marketers employ different marketing and communication strategies for both groups. This type of segmentation is particularly important when collecting data on aspects such as clothing, cosmetics, jewelry industry among others.

Another form of segmentation is by age group. Segmentation through this category a unique way for personalization. Another segmentation that matters is by income levels. Income determines the purchasing power of the target group. It also helps marketers determine if a certain product will sell or not. Other forms of segmentation include place, occupation, usage, lifestyle among others.

 

Types of Market Segmentation

There are four key types of market segmentation and all these vary in terms of the applicability and implementation. They include the following;

Demographic Segmentation

This is one of the simplest forms of segmentation and also the widely used. Most companies employ it to get the right population who are using their products or services. With this segmentation, you basically divide a population-based on variables. Demographic segmentation has its own variables too, such as gender, age, income, family size, religion among others.

 

Behavioral Segmentation

marketThis type of segmentation helps in dividing a population on the basis of their behavior, decision-making patterns as well as usage. A good example is how young people may have a certain preference of some products over others. Smartphone market employs this use of segmentation.

 

Psychological segmentation

With psychological segmentation, the emphasis is placed on the lifestyle of people, their interests, activities as well as opinions. Psychological segmentation is very similar to behavioral segmentation. However, it takes into account the psychological aspects of consumer buying. These psychological aspects may finally become a consumer lifestyle.

 

Geographical Segmentation

This is a type of segmentation that divides people on the basis of geography. Potential customers will always have different needs that are based on their geography and their location. In cold countries, marketers may try this segmentation to evaluate if heating products would be accepted or not. This type of segmentation is the easiest to use, but it is not very much adopted due to advances in the other methods.