Psychographic Segmentation is one of the many different approaches taken in dividing the market into segments. It divides the market into groups based upon social class, lifestyle and personality. It is based upon the assumption that types of products and brands an individual purchases will reflect that person's characteristics and patterns of living.
Social class is the single most used variable for research purposes, and divides the population into groups based on the occupation of the Chief Income Earner, as such it can be seen as a socioeconomic scale.
An example of this is the National Readership Survey in the UK. The following chart summarizes the socioeconomic scale:
Social Grade
Description of Occupation
Example
Upper Management
Company director
Middle management
Middle manager
C1
Supervisory
Bank Clerk
C2
Skilled manual Labor
Plumber
Semi- & unskilled labor Laborer
Pensioners and Unemployed
Unemployed, Retired
This scale operates on the assumption that individuals in similar positions of authority and income will have similar interests and attitudes. For example, when marketing automobiles, the President of the company (Social Grade A) will have different reasons and motivations behind the purchase than the company's janitor (Social Grade D). While the lower social grades will be sensitive to such things as dependability and affordability, the executive is more likely to choose a car based upon style or prestige.
Lifestyle segmentation involves classifying people according to values, beliefs, opinions and interests. There is no one standardized lifestyle segmentation model, instead market research firms and advertising agencies are constantly devising new categories, which will best help target possible consumers of their clients' products.
The company Young & Rubican provide an example of lifestyle with their Cross-Cultural Consumer Characterization, abbreviated as the 4 Cs.
Here are brief descriptions of the categories within the 4Cs.
Resigned: Rigid, strict, authoritarian and chauvinist values, oriented to the...
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