In your opinion how are lifestyles & psychographics used in market segmentation to develop
marketing strategies
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Explanation:
psychographic segmentation is the process of creating clusters of customers who share similar characteristics and then grouping them together. These clusters will form subsets (or segments) of customers based on their ( For E.g;):
- Social Class
- Lifestyle
- Interests
- Values
- Personality
- Social status
- Religion
- Opinions
- Hobbies
Back in 1980, Arnold Mitchell developed VALS (values, attitudes, lifestyles) which became a technique for market research - this provided the springboard for psychographic segmentation.
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