Market segmentation is unquestionably probably the most significant aspects of the marketing process. In this article I will examine the vehicle industry in the UK. We will mostly concentrate on the psychographic method of the segmentation. The abilities and failings with the method will be discussed here. I will also examine several other market segmentation methods in the automobile industry.
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Psychographics has shown to be an incredibly useful tool for organisations in their marketing research. It identifies target markets that could ‘t be isolated using only demographic variables. Psychographics are built to appraise the consumer’s predisposition to acquire a product or service, the influences that stimulate buying behaviour, along with the relationship involving the consumer’s perception from the product benefits and his/her lifestyle, interests and opinions. Often researchers have looked to psychographics because with the limitation encountered in demographics. An advantage of psychographics is that it describes segments in terms directly highly relevant to advertisement campaign and market planning decisions of organisations.
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