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Term Paper Synopsis

This document discusses psychographic segmentation and its importance in marketing. Psychographic segmentation divides consumers into groups based on personality traits, opinions, values, attitudes, interests and lifestyles. Segmentation allows companies to develop and market products more efficiently by precisely matching products to each segment's needs. Using psychographic segmentation, marketers can target specific segments in advertising to maximize exposure and conversion rates. The research aims to understand psychographic segmentation and its effectiveness as a marketing tool, and identify factors that influence it and common mistakes made in its execution.

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51 views4 pages

Term Paper Synopsis

This document discusses psychographic segmentation and its importance in marketing. Psychographic segmentation divides consumers into groups based on personality traits, opinions, values, attitudes, interests and lifestyles. Segmentation allows companies to develop and market products more efficiently by precisely matching products to each segment's needs. Using psychographic segmentation, marketers can target specific segments in advertising to maximize exposure and conversion rates. The research aims to understand psychographic segmentation and its effectiveness as a marketing tool, and identify factors that influence it and common mistakes made in its execution.

Uploaded by

ankitpandey123
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SYNOPSIS

ON
PSYCHOGRAPHIC METHODS AND ITS IMPORTANCE IN
MARKETING

UNDER THE GUIDANCE


of
Prof. Puja

XAVIER INSTITUTE OF SOCIAL SERVICE

PURULIA ROAD, RANCHI

NAME:KUMAR ANKIT
ROLL NO.: 5
MARKETING II

Introduction
Any kind of purchase is often related to lifestyle and interest. Market
segmentation1 is segmenting the customer markets into homogenous groups
of customers, each group reacting differently to promotion, communication,

1
(RECKLIES, 2015)
pricing and other variables involved in the marketing mix. In other words
Psychographic segmentation is dividing a market based upon consumer
personality traits, opinions, values, attitudes, interests, and lifestyles.
Importance2 of psychographic segmentation.
As consumers have different attitude, interest and traits so, Segmentation
allows us to develop and market our products in a more efficient way as there
will be a more precise match between the product and each segment's needs
and wants.
Why should we use3 psychographic segmentation.
By segmenting the market based on psychographic characteristics you are able
to be more niche in your advertising buys; maximizing exposure to key
segments. As a result, your money is spent more wisely and you should see an
increase in your ad spend efficiency or a greater return on investment. You
also can appeal more specifically to motivations in your messaging, which
improve your conversion rate. Psychographic characteristics also play a key
role in developing your target market personas.

Significance of research
 This study aims at understanding what is psychographic segmentation
and its importance in the field of marketing.
 This research will also help us understand in present scenario as to what
extent psychographic segmentation is used and how efficient it has
been.
 This research will also focus on why marketers at times are unable to
execute psychographic segmentation successfully or the common
mistakes they make.

Objective of research
 To understand the effectiveness of psychographic segmentation in
marketing.
 To understand the factors influencing psychographic segmentation.

2
(Grimsley, n.d.)
3
(segmentation, n.d.)
 To understand how marketers see psychographic segmentation as a
marketing tool.

Chapterization
 Literature Review
 Research Methodology
1. Introduction
2. Research design
3. Data collection
4. Tools of data collection
 Discussions
 Conclusions
 Limitations/Scope for further research
 Bibliography

Research methodology
The research will be a secondary research. The research will be descriptive.
The research will be based on existing content and studies. Sources will be
mainly through marketing journals and various publications.

Limitations
Since, the research is secondary:
 Some existing documents may lack authenticity.
 Data present may be old or for some comparative study.
 Existing documents may not represent a wider population.
 Documents may be biased.

References

Grimsley, S. (n.d.). Psychographic Segmentation in Marketing: Definition & Examples. Retrieved from
study.com: https://study.com/academy/lesson/psychographic-segmentation-in-marketing-
definition-examples-quiz.html
RECKLIES, D. (2015, February 8). Retrieved from THEMANAGER.ORG:
http://www.themanager.org/2015/02/market-segmentation/

segmentation. (n.d.). Retrieved from directive group: https://www.directivegroup.com/what-we-


offer/strategies-and-assessments/market-segmentation/psychographic

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