SMG MK 323 Chapter Notes - Chapter 9: Vertical Launching System, Psychographic, Target Market
11 Oct 2016
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Document Summary
Studies how people self-select based on the characteristics of how they choose to occupy their time (behavior) and what underlying psychological reasons for determining those choices. 3 components: self-values goals for life, self-concept the image people ideally have of themselves, lifestyles the way we live, how we live our lives to achieve goals. To support psychographic segments is the value and lifestyle survey (vls). Horizontal dimension shows the segments" primary psychological reason for buying ideals, achievement, and self-expression. Self-expression desire social or physical activity, variety, and risk. Common behavioral are loyalty and occasion: very common: geodemographic geographic, demographic, lifestyle. Must be distinct: substantial once identified its potential target market, it needs to measure their size. Segment profitability = (segment size x segment adoption percentage x purchase behavior x profit margin %) fixed costs. Step 4: select a target market: factor likely to affect this decision is the marketer"s ability to pursue such an opportunity or target market.
