Psychographic Segmentation

Customers have a special need and expectation from brands and these demands are based on a certain factor which affects their life. Companies use these factors to promote and capture the attention of their customers in the market. The following are the variables used for marketing strategies.

Personality:

• Customer personality is believed to be strongly related to their purchase habit. Products and services can be catered to various personalities. Also, different concepts and surveys can be used to analyze different personalities. 
• For instance, Mirror in 2018 began selling itself as an interactive home trainer. The workshop for the product advertised towards people with the personality of workout-lovers. The customers who can’t find time to go to the gym responded to this business strategy.

Lifestyle:

• Understanding the kind of lifestyle your customers have from their social media activity or keeping track of the trends can help you create a strategy to attract your customers. Such development of products is more successful because they are created based on customer’s lifestyles.
• For example, the “Yuppie Handbook” of the 80s was targeted towards young, urban, and working-class professionals who earned enough to spend on fashion over utility. 

Social Status:

• Social status which is based on the income of one person often is the determining factor of their purchase behavior. Each social class has its choice of brands that they can afford. 
• For example, a brand can aim for rich, upper-class people because their brand has a clear idea of who can afford them. High quality and high price become their brand image, with their audience being upper-class.

Interests:

• The market observes the activities and interests enjoyed by the customers to create customer-centric products or services. Their opinions about a concept are factors that the companies or organization build their marketing strategies around.
• For instance, digital communities are one such example of an interest group. You can find many sites dedicated to particular interests or activities focusing on customers who enjoy such options. You can find websites with movies, music videos, channels with video games, etc. all such websites target audiences who share the same interests.

Values:

• Value is one such segment that catches the attention of the customers. You can track the values of your customers based on the data you have collected about their lifestyles, interest, social class, etc. 
• More and more companies are targeting values related to the environment. Sustainable fashion, furniture, architecture are some examples that are now being advertised as a marketing strategy.