What is Psychographics - 885 Words

What is Psychographics? Psychographics is a research focused on the psychological aspect of the buying behaviour and consumer lifestyle that includes their activities, interests and opinions. The psychological factors that affect their buying decisions include motivation, perception, learning, attitudes and belief hence in order for this method to be successful, marketers must first identify the needs and wants of customers because without proper understanding, marketers will not be able to produce the correct products to offer. Thus, by identifying the needs and the wants, it helps to create a more accurate and a stronger marketing mix. Need is something that a consumer feels that is essential for them to consume or to have which awaken certain drive that directs a person’s behaviour to potentially achieve this satisfaction. Need is developed when consumers are in the state of disequilibrium and feels the urge to satisfy a need. Influences from reference groups, cultures and social class can determine the kind of products they purchase depending on how influential and cohesive these reference groups, cultures and social class are. Reference groups refer to people consumer associate with on a daily basis for example family because how children were brought up can determine how and where they spend their money or reference group can also refer to people they look up to and aspire to belong to a particular group are known as aspirational group for example the popular crowdShow MoreRelated2.What Is Psychographics?. Psychographics Is The Study1153 Words   |  5 Pages2.What is Psychographics? Psychographics is the study of personality, values, opinions, attitude, lifestyle. It can also be seen as an equivalent of the concept of culture when it is used for segmentation at a national level. Psychographics is commonly known as study of ‘lifestyle’ of consumers. It plays an important part in building consumer behaviour and helps in the promotion of those products and services which are related to items of personal care, fashion, automobiles, telephone servicesRead MoreSegmentation and Target Market Paper1094 Words   |  5 Pagesstress-free environment and ease of access when service is needed. This is what the consumers purchased decisions are determined by. When coming up with a decision on where to put a new location for the business, the information will bring about where your target market is located, for this, the demographics is an exceptional tool. Demographics give a widespread of who are your customers, where they are to be found at, and what they do. Although GEICO may have figured out their demographics groupRead MoreDemographic and Psychographic Information: Critical Aspects to Effective Marketing Communications1194 Words   |  5 PagesDemographic and psychographic information are critical to effective marketing communications. For the owner of a small clothing store, being able to understand who your customers are and how they think is essential to growing your business. We know that you do not have a large marketing budget, so the key marketing challenge is to use your limited marketing resources effectively. This memo will outline to you how demographic and psychographic information can be critical not just to reaching yourRead MoreMarketing Communications Memo1086 Words   |  5 Pageschange depending on who the target audience is. A message that is targeting young consumers, like an advertisement for the Twilight movie would be different than one targeting men. The same can be said for having a better understanding of t he psychographics of the consumers. Knowing the different interests and lifestyle of the target population can help tailor the message to be most effective. People who are interested in fast cars would be drawn to advertisements that include fast cars in the messageRead MoreThe Relationship Between Marketing And Consumer Behaviour And A Marketing Strategy Essay1390 Words   |  6 Pagesbusiness bond. Connect up as two human beings before you connect up as buyer and seller. 5. All marketing has two messages — the stated message and the metamessage. The stated message is what you say. The metamessage, often stronger than the stated message, is what your marketing looks like, feels like, where it appears, what size it is, and how professional it appears. 6. If you’re interested in increasing your share of market, the way to do it is to first increase your share of mind. If you go only forRead MoreIntegrated Marketing Memo1290 Words   |  6 Pagesplan aims to ensure that Kudler Fine Foods’ (KFF) marketing plan is consistent with the demographic data and psychographic data that have been researched by the company in the past. This memo will go into detail about how to create a marketing plan that is consistent through the various media used in their marketing strategy and why it is important in terms of demographic and psychographic data collected. This plan’s goal will be to ensure effective branding across all platforms of advertising mediaRead MoreWhat Is A Market? Essay1142 Words   |  5 PagesWhat is a Market? Again, this seems like another absurd question. However, this is another thing that will impact your business idea. The â€Å"market† in its most general sense is either â€Å"mature† or â€Å"not mature.† A market is considered to be mature when it has reached a state of equilibrium, which just means there is an absence of growth or a lack of innovation. Equilibrium can also be achieved, or can be considered a byproduct of maturity, when supply matches demand. Clearly, this state can prevailRead MoreIdentifying Market Segments And Targets1191 Words   |  5 Pagesare many different levels of market segmentation such as, geographic, demographic, psychographic, and behavioral segmentation (Kotler, Keller, 2012). The geographic segmentation used when the marketers segment the market by focusing on a specific geographic area (Thomas, 2007), demographic segmentation concentrates on gender, age, housing type, income, and the educational level (Thomas, 2007), the psychographic segmentation is studying the customers behaviors, emotions, beliefs, and lifestyle (ThomasRead MoreQuestions on Self-Reflection629 Words   |  3 PagesSelf-Reflection What personality type did you chose and what elements in your project specifically relate to that personality type and why? How did you market to the strength of your chosen psychographic? For this project, I chose a personality that would prefer to stand out from the crowd. Both the product used and the print advertisement were intended to be focused on a target market who psychographic who had outgoing personalities and did not mind attracting attention to themselves. This psychographic wouldRead MoreRed Bull Environmental Scan1129 Words   |  5 Pagesstrategies in accordance. In order to deliver value to the company and its shareholders, Red Bull’s environmental scan considers factors such as stakeholder analysis, the energy drink industry/market, competitor analysis, demographic variables, psychographic variables, and economic trends. In regard to stakeholders, Red Bull utilizes the P.E.S.T (Political, Economic, Social, and Technological) model of analysis. In regard to Political Stakeholders, the company is subject to the mandates of both domestic