Psychographic segmentation , also known as lifestyle segmentation, is one of the four main segmentation bases used in segmenting consumer markets, with the others being geographic, demographic, behavioral (which is sometimes also split down into benefits segmentation).
As you may have guessed, the word “psychographic” the … Read more...
Marketing students often confuse the difference between behavioral and psychographic segmentation. The reason is the word “behavioral” – as it suggests how consumers behave, so how can that be different to their psychographic equal lifestyle behavior?.
Good question, so let’s explore the differences in this article.
Depending upon the marketing textbook that you are reviewing, the process of moving from market segmentation to positioning is sometimes referred to as the STP process, or in some other textbooks, the STDP process.
These are identical processes, with the exception of the STDP approach simply be … Read more...
Please note: This article explains how to build segment profiles using Excel – but a free segmentation tree and segment profiling Excel template is available for free download on this site along with simple video instructions on how to use.
Segment profiles are rich and … Read more...
If you have access to market research survey data or a customer database, then building segment profiles are very quick and simple to do using a Excel spreadsheet.
Here is a free Excel template … Read more...
There are multiple approaches to creating market segments, from simple “guesswork” to more scientific data-driven techniques. On this website you will find an article that addresses the two main market segmentation tools – namely segmentation trees and cluster analysis. But the purpose of this … Read more...
There are multiple ways to segment a market, but one of the more precise and statistically valid approaches is to use a technique called cluster analysis. Cluster analysis is a tool that is used in lots of disciplines – not just marketing – basically anywhere there is … Read more...
Knoweldge@Wharton originally defined the term BYOP as “identifying new segments by their digital engagement.”
According to Wharton, this persona is based on:
Using the Wharton definition, ‘digital capability’ is a consumers’ ability to maximise their usage of the latest technologies such as mobile apps, wearables, social … Read more...
… Read more...Age and income aren’t the only ways to break down financial consumers. This study’s segmentation model reveals some interesting differences in how people think about banking and relate to their primary financial provider.Saylent commissioned a study through Informa Research Services to assess consumer and small business banking preferences and the
A good example of the STP process (segmentation, targeting, positioning) can be found during the Cola Wars in the 1980s between Coca-Cola and Pepsi-Cola. As you may be aware, Coca-Cola eventually took the dramatic act of reformulating their flagship Coca-Cola product and withdrawing it from the market to replace it … Read more...
