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The traditional way to develop a psychographic segmentation model has been through a market research study surveying a statistically representative sample of a target audience. That target audience could be representative of the general population, a specific demographic or socioeconomic group, a population of consumers who utilize a certain ...
Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...
Audience segmentation is widely accepted as a fundamental strategy in communication campaigns to influence health and social change. [4] Audience segmentation makes campaign efforts more effective when messages are tailored to the distinct subgroups and more efficient when the target audience is selected based on their susceptibility and ...
VALS (Values and Lifestyle Survey) [1] is a proprietary research methodology used for psychographic market segmentation. Market segmentation is designed to guide companies in tailoring their products and services in order to appeal to the people most likely to purchase them.
Approaches to segmentation will vary depending on whether the total available market (TAM) is a consumer market or a business market. Market segmentation is the process of dividing a total available market, using one of a number of key bases for segmenting such as demographic, geographic, psychographic, behavioural or needs-based segments.
Mass marketing is a marketing strategy in which a firm decides to ignore market segment differences and appeal to the whole market with one offer or one strategy, [1] which supports the idea of broadcasting a message that will reach the largest number of people possible.
Psychographics is defined as "market research or statistics classifying population groups according to psychological variables" [1] The term psychographics is derived from the words "psychological" and "demographics" [2] Two common approaches to psychographics include analysis of consumers' activities, interests, and opinions (AIO variables), and values and lifestyles (VALS).
Market segmentation is a process, in which groups of buyers within a market are divided and profiled according to a range of variables, which determine the market characteristics and tendencies. [2] The S-T-P framework implements market segmentation in three steps: Segmenting means identifying and classifying consumers into categories called ...