What you need to know about psychographic segmentation

Transcript: You you you you for group analysis we focused on Lipton tea a prominent C producing firm founded over a century ago and with over a hundred product offerings psychographic segmentation plays a vital role in the marketing strategy of Lipton tea a key player in the team arket as will be highlighted shortly in this video using the Valve's framework we were able to ascertain the targeted psychographic segments some of the infant's branded products are being majorly directed to innovator of Lipton is how to success the market concept of tea that means later transfer the ideas of tea in your model and leading the market of tea globally in fact creating the innovation based on the customer segments and the ability to change the demand of teas in new categories like summer beach iced tea drinker it means Lipton is playing a big 10 on how to affect the option of customer and selection the types of tea it means reading the ideas of people and open the notion is of selection this channel depends on how to build the thinker's of people based on previous knowledge responsibilities and diversities like leptin energy tea achievers achievers or... See more →

Key quotes:

• "Psychographic segmentation refers to the psychological aspects of consumer’s buying behavior like his lifestyle, his social standing, activities, interests, and opinions."
• "While psychographics is important, it is by no means the only way to develop a marketing strategy."
• "Understanding the psychographics of the target audience is very important in the marketing process, but it is overlooked very often."
• "People have the curiosity to know, understand or desire for knowledge about some things out of which they develop interest."
• "Let’s understand psychographics in marketing through an example: There is this rich businessman who wants to have a fit body and lead a healthy lifestyle."
• "In cases like this, we can consider psychographics of the customer like posh lifestyle, can afford to spend money, reducing weight, healthy lifestyle."

Key quotes:

• "This 360-view will give you the insight you need to create data-driven marketing campaigns that are more likely to resonate."
• "This is because the psychographics can be captured when individuals are in their so-called “natural environment.” Let’s take a look at several of the most productive ways to do psychographic marketing research: As a marketer, it’s hard not to have a particular soft spot for Google Analytics."
• "Virtually every social media platform that offers advertising services will provide details about the psychographics of your followers."
• "You can use psychographic marketing throughout the entire customer journey, from awareness to retention."
• "By effectively targeting passive individuals based on their demographics and interests or lifestyles, the chance of getting them on your website significantly increases."
• "If your data gives you insight on what kind of brands your desired audience trust or use, you can use that as a targeting criterion for your own campaign."

Key quotes:

• "A data-driven approach allows marketers to see how audiences segment based on multivariate analysis."
• "For instance, you might segment the market into 5 groups based on demographics — millenials, Gen X, Gen Y, Baby Boomers, and Seniors Positioning — involves creating a product image that appeals to a target market or several target markets."
• "Suggested article : We Know You, Better Than You Know You; Metadata, Analytics & Hacking The Consumer Brain Commonly, we use demographic variables (age, income, education, gender, etc), geographic variables (country, city, state, neighborhood, etc), psychographic variables (lifestyle, attitudes, beliefs, etc), and behavioral variables (usage, etc)."
• "Marketers must understand the buyer’s personality; what TV programs they watch, what music they listen to, what their household looks like … Many firms don’t do enough research and come up with inaccurate personas."
• "This problem preexists buyer personas and I remember firms constructing target markets comprised of: 35–60 year old women who care about clean clothes."
• "Obviously, there’s no real reason for creating psychographic segments or buyer personas unless they help you market better."

Key quotes:

• "Great, let’s get started… As mentioned, psychographic segmentation requires that you look past who your customers are as it pertains to your company and see them as individual people living in the real world."
• "By collecting psychographic segmentation data, you’ll gain an understanding of: By gaining an understanding of these aspects of your customers’ lives, you’ll be able to tweak the products or services you offer in order to provide maximum value to your target audience."
• "As we work through each of these categories, you’ll begin to see that they often play off one another, in that individuals who can be described as a certain personality type will tend to fall into a specific category of lifestyle and/or social class."
• "To get a good picture of an individual customer’s lifestyle, you’ll need to analyze three “dimensions” of their life: Though commonly referred to as “AIO Variables” (Activities-Interests-Opinions), I’ve decided to list these factors in a different order, which we’ll discuss momentarily."

Key quotes:

• "Understanding unique psychographic profiles of the audience allows product marketers to zero in on the audience profiles that actually understand and appreciate “the music”, and position the messaging accordingly."
• "Here are three ways to use psychographic segmentation in product marketing."
• "Similarly, for product marketers, customer research should emphasize understanding the behaviors of those you have to persuade and those you have to motivate."
• "Use these traditional methods to ask your audience questions about their lifestyle, aspirations, interests, and opinions."
• "You can really get a sense of the personality of the audience from these comments."
• "This tool uses linguistics analysis to analyze personality traits from text based data."

Transcript: In order to make their products relevant to a variety of consumers companies use target marketing marketers identify specific segments of the population and position their products to appeal specifically to that segment at McDonald's segmenting is central to their marketing strategy but the burger giant takes a different approach to segmenting and then most companies traditional consumer packaged goods companies such as Frito Lay organized their marketing department by brand and so you will have a brand manager on Doritos or a brand manager on Lay's etc etc at McDonald's instead of having a brand manager on Big Mac and a brand manager on french fries what we have our segment managers and so at McDonald's you will find a director of young adults a director of women moms a director of African American consumers a director of Hispanic consumers etc so that structure all by itself puts McDonald's in a position to really maximize targeting marketing efforts in order to target markets accurately McDonald's uses segments insights insights or information about consumer behavior that are developed through market research but constantly every day all week long collecting information and data about the different segments that each of our... See more →