Explain how demographic factors can be combined with psychological factors (e.g., motivation, lifestyle, attitude, perception) to...
Explain how demographic factors can be combined with psychological factors (e.g., motivation, lifestyle, attitude, perception) to improve segmentation, targeting, and positioning. Use examples to explain your answer. Explain the benefits of this type of segmentation.
Homework Answers
Demographic factors are related to age, gender, educational qualifications, religion, location, and income level among others of the target market. whereas psychological factors relate to the lifestyle and opinions of the target markets. These can be their leniency towards healthy products or environmentally-friendly products etc.
By combining both, any marketing campaign can make effective advertising and segmenting the market even further to create a niche of the ideal consumers who would be interested in the product.
Suppose, a company wants to market its healthy protein shake which is available in reusable environmentally friendly packaging. The advertising can target consumers of 20-40 years of age, earning high to mid-level income, fitness and health enthusiasts who are aware of the effects on the environment by excessive usage of plastic bottles. This would create the perfect niche for the company to target its product.
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