Psychographics and Psychographics Segmentation

Contents

Introduction        

What is market segmentation?        

What is Psychographics?        

Psychographic Segmentation        

VALS        

The Original VALS Classification System        

The VALS 2 Classification System        

The List of Value Approach        

International VALS        

Evaluating VALS Classification System        

Nielsen Segmentation        

Nielsen PRIZM        

Nielsen P$YCLE        

Nielsen ConneXions        

Evaluating Nielsen Segmentation        

Evaluating Psychographic Segmentation        

Conclusion        

Bibliography        

Introduction

The paper with topic of psychographics and psychographic segmentation is written by Group 5 which consists of Muhammad Abu Yazid Mohd Nor (169645),  Nursa’adah Bte Haji Mohd Asnawi (170381) and Andina Febriana Syahputri (171602). This paper was given by Mr Ganesh Thanasegaran as part of the group assignment which consists of a comprehensive report and analysis.

In this report, it is divided into several sections which include a brief explanation of market segmentation, key factors of psychographics, and details on psychographics segmentation. After giving brief explanation of the introduction to the market segmentation, as the main focus of our paper, we will give a insights on the psychographics, which is the bases for our next focus, psychographic segmentation. The psychographic segmentation section will give an important information relating to the classification systems that are being used in the psychographic segmentation, including the most popular classification system, VALS classification system.

Last, as a part of our main topic and to give more insights on the focused topic, we will give a critical analysis for each section in our paper. The critical analysis will try to explore further on the idea of each section as well as its implication in the real market. At the end, It is worth to conclude that psychographics and psychographics segmentation is one of the most current segmentation that market has in today’s businesses.

What is market segmentation?

Before we get into a little bit more details on what is market segmentation, defining a market have 2 different strategies and they are mass marketing and market segmentation. Mass marketing assumes that there is no difference and treated its target market as a whole, assuming that consumers have the same product needs and only uses a single marketing plan.