7 Psychographics

E mer gi ng Ma na ge rs

Ms. Shristi Sharma MBA Batch 2020 -2022 ICFAI Business School, Hyderabad

Psy ch o gra ph i cs

“Observe your customers so closely that you get to Here demographics are the statistical study of know what they want before they realize it population and psychographics is building logic by themselves” examining human traits. Developing a marketing Marketing is the combination of several processes need to be considered before planning and and it is much more than just selling if we look at executing them. A good marketer will always give the current trends. The latest emerging technologies importance to psychological traits to target the right have significantly affected the way to market audience. This is the era where consumers want products/services. Organizations need to have an customized services, the only possible way to accurate advertising strategy to hit the minds of the achieve that is psychological analysis. One should target audience, a considerable effect of advertising keep in mind every buyer is different and hence the should be seen by consumer’s responses. requirements and needs are different too. Consumer’s attitude acts as the intermediator between the purchase intentions and brand Buyer’s Persona = Demographics + attitudes, hence it’s the perception and preferences Psychographics that lead to the buying action of buyers.

Introduction to Psychographics

strategy is not at all an easy task and various factors

Importance of Psychographics

If you know your buyer, you should know what Psychographics is the methodology based on a they exactly want and why they decide to buy. qualitative study that leads to the classification of People’s preferences affect their choices sometimes customers based on characteristics like values, directly indirectly. Combining these preferences desires, goals, interests, and lifestyle choices. It can with relevant demographics you can understand the be simply concluded that the buyer’s persona is a mental state of your buyer. For example, if you combination of psychographics and demographics. know the likes and dislikes of your customer you

can create the content of the marketing message of hobbies so marketer should be able to identify accordingly. If you know the platforms visited them. People having similar hobbies can be kept in frequently by your customers, you know the place common subgroups. Several websites provide the where you can catch them. feature of playing the game when you lose the

Psychographic Segmentation

Psychographic segmentation is the process of defining things into right and wrong. Values create segmenting the market based on research, surveys, awareness among the buyers hence define buyer’s and reviews. This division of the population into persona. All the supermarts these days motivate subgroups will help to closely monitor the customer their customers to bring their own cloth bags so that behaviors and their decision-making process. If the pollution can be minimized. Customers feel better segmentation is done properly, we can track the if they live according their values. pattern of the thinking process of buyers.

Five Factors Model for Psychographic Analysis

is a foodie and you own a gym then you can attract improvement in eating habits. 3. Attitudes: This makes you able to know the generally show kids in the advertisement of hand internet connectivity in between work. 5. Values: People generally have a sense of

Collection of Data for Analysis

The market research report will be of great help and 1. Personality: It defines the collection of traits help you forecast the performance of your product. possessed by a person which further define the However, for small companies, this method is quite thinking pattern, feeling and behaving costly. Google Analytics tool and short surveys can characteristics of individuals. Extroversion is one help in the collection of data when your target of the personality types which let us know whether audience is large in number. Surveys are the most the person enjoys working with other people or not. cost-effective way to collect data on buyers and If a person enjoys alone time you can attract them their corresponding interests. Sometimes social with your blogs, solo games and activities. media handles reflect the likes and dislikes of your 2. Lifestyles: This is the daily routine followed by can decorate our customer rooms as per the colors individuals and it has significant effect on thinking and objects majorly used by them on social pattern. You need to know whether your services fit media. All you have to do is find the answers to in the schedule of our customers or not. If a person some simple questions about your buyer like them by mentioning the importance of exercise and  a. What makes them buy the product?  b. What was their first thought about the product? general perspective of the buyer as it effects the  c. From which source they got to know about your emotions and beliefs of individuals. Companies product? buyers too. For example, if you own a hotel, you wash these days, kids safety eventually grabs the  d. What are the factors that influenced their attention of parents towards that product. decisions?

4. Interests: Targeting hobbies is the best possible e. What was the point of difference and point of way to know the customers. Every person has a set parity they founded in your product?

Impacts of Psychographics will help in properly doing the psychographic This analysis and then segmentation can be achieved by doing brainstorming sessions with the Industries including retail, travel, and healthcare all marketing team, product team, and internal are using the benefits of psychographic analysis to stakeholders. The more you know your customer improve brand image and attract customers. the more effectively you will be able to fulfill their Businesses need to redesign their strategies with needs. Training sessions for the sales team along time and doing the psychographic analysis can with optimizing the website, refining the messages, really help them do so. enhancing A/B testing, and updating the products analysis.