About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features Market Segmentation, Targeting & Positioning (STP) with Company Examples Introduction Ever increasing competition and greater demands by customers have rendered mass marketing virtually ineffective in several product categories (Harvard Business Review, 2006). Find out what Psychographics is. Psychographic segmentation has been used in marketing research as a form of market segmentation which divides consumers into sub-groups based on shared psychological characteristics, including subconscious or conscious beliefs, motivations, and priorities to explain and predict consumer behavior. Psychographics bridge the gap between consumer psychology and data, taking your behavioral data to the next level of insight. Psychographic segmentation examples In the above video, Google highlights how a helicopter team was able to save the lives of a family with Google maps. Examples of Psychographic Segmentation in Real-World Ford Pinto 1975 Ford changed the ad of their iconic car ���Pinto��� after discovering their existing customers��� psychographic profile. Psychographic segmentation can help brands connect with potential prospects and consumers in a variety of industries, including retail, travel and healthcare. Notes on Market Segmentation: For a focused marketing program, market segments should be based on certain clear-cut variables, like geographic, demographic, psychographic; behavioural, value based, volume based and benefit based. However, once you read more about psychographic targeting, you will be able to understand it better �������� Here are nine ways to use psychographic segmentation to create content and get great results as well as some psychographic examples to give you a better understanding of it. Examples of Psychographic Segmentation The different factors or variables of psychographic market segmentation are categorized into various types. In other words, psychographic segmentation considers how the person lives, thinks and feels ��� rather than understanding them purely as a consumer. ADVERTISEMENTS: Market Segmentation: Types, Importance, Examples, Process, Bases! Psychographic Segmentation Examples Travel & Transportation The marketing team for a travel site notices a group of users that have purchased multiple flights between the same departing and destination cities ��� and never fly on the weekend. The SoGoSurvey team will assess each situation and structure the right questions and projects to get into the minds and souls of your customers along every touchpoint on the customers��� journey . Marketing segmentation has always been important. Personality is the combination of characteristics that form an individual���s distinctive character and includes habits, traits, attitude, temperament, etc. Examples of psychographic segmentation Psychographic segmentation is a powerful way to make your product and message more relevant to your audience. Psychographic segmentation is quite similar to behavioral Psychographic segmentation. You leverage psychographic data for psychographic segmentation. The purpose of psychographic segmentation is to first understand the person and then connect that back to why and ��� If ever market segmentation called for specialized input, it���s in the psychographic segmentation category. Segmentation allows you to better develop your product because there will be a more precise match between the product and each segment needs and wants. Psychographic segmentation variables with examples There are three main psychographic targeting variables, each of which is broken down into subcategories. Learn everything you need to know about how to to study and classify people according to psychological criteria like their attitudes, aspirations, values, lifestyle, and personality in this breakdown of how companies and marketers can use psychographic surveys to better understand their customers. Psychographic Segmentation This segmentation process works on a premise that consumer buying behaviour can be influenced by his personality and lifestyle. In our previous article on customer segmentation examples, we gave examples of demographic, behavioral, and psychographic segmentation. Although psychographic segmentation has been used by more progressive healthcare organizations for decades, it is only now gaining a growing audience among hospitals and health systems as patients begin to act more and more like ���consumers��� in their expectations of a Demography studies populations, according to quantitative factors: How Yet, only 33% of companies using it say they find it significantly impactful. TYPES OF MARKET SEGMENTATION There are 4 different types of market segmentation and all of them vary in their implementation in the real world. It���s up to the companies to decide which factor will be advantageous for them on the basis of their needs, products and/or services and specific market campaign. The four most common audience segments are demographic, psychographic, geographic, and behavioral. What's the difference between demographic data and psychographic data? Lifestyle is how a person lives his life. Lifestyle is how a person lives his life. Here���s a look at each of them, complete with examples of services or products that use psychographic segmentation. But psychographic segmentation also takes the psychological aspects of consumer buying behavior into accounts. MARKET SEGMENTATION 121 success farming philosophy social activities family recreation political interest status Once the psychographic dimensions were determined, a suitable questionnaire was developed to measure these factors among farmers.measure these factors among farmers. Copy the code below and paste it in place of the code in the stylesheet in order to make these changes affect all your pages. This article will guide you through psychographic segmentation, its advantages, variables, and examples. Psychographic Segmentation This segmentation process works on a premise that consumer buying behaviour can be influenced by his personality and lifestyle. Related Article: Market Segmentation, Targeting & Positioning (STP) with Company Examples Segmentation and Targeting Market segmentation, according to William Stanton, is the process of dividing the heterogeneous market for a product into several sub-markets or segments, each of which tends to display homogeneity in all important aspects (Rudani, 2010; Tabavar n.d., p. 63). It has to be something new and fresh In this Psychographic segmentation helps identify people based on the way they think & the kind of life they want to live in terms of lifestyle, status etc. 5 psychographic examples that influence buying behavior The following five characteristics are what we at the Buyer Persona Institute call the 5 Rings of Buying Insight , which speak to the characteristics that influence buying decisions for specific products or services. Examples of Market Segmentation Market segmentation is a common practice among all the industries. What Are Some Examples of Psychographic Segmentation? 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