? Market Segmentation – Psychographic Method

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Market segmentation is a vital area of the marketing process. It allows firms to allocate their market into groups who have a similar similarities that happen to be relevant for making decisions within the web marketing strategy. Then firms can target their market to serve it effectively, they’re able to differentiate the market industry, define the opportunities and threats and tailor the marketing mix. To be useful, segments selected should be measurable, substantial, accessible, differentiable and actionable. The market might be segmented diversely; these most widely used techniques used are: behavioural segmentation which analyse benefit sought, purchase occasion, purchase behaviour, usage and perception and beliefs; second is psychographic segmentation which analyse the lifestyle as well as the personality of clients as well as the third is profile segmentation which base its researches on demographic, socio-economic and geographic variables.

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