MKTG 317 Lecture Notes - Psychographic
11 Apr 2013
School
Department
Course
Professor
Document Summary
The process of dividing a market into meaningful, relatively similar, identifiable segments or groups. A subgroup of people or businesses sharing one or more characteristics that cause them to have similar needs. A market segment to which an organization directs its current marketing program. Small target markets: ferrari or lamborghini, yacht sellers. Narrow down: go from larger to smaller. Keep relevance to the business in when defining limits. Lots of data available for this approach. Segmentation by lifestyle (e. g. how and individual operates on a given day) Values = an important descriptor (e. g. what we hold important, reflection of our needs) Must relate to need (depends on case) Many systems to define, organize psychographics (e. g. environics prizm) Creating a lifestyle profile for: (dodge commercial monkey guy) The lifestyle described has certain benefits and usage depending on: Benefits: task is to determine the major benefits that people might be looking for in the product class.
