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Table of Contents

  1. Topic pack - Marketing - introduction
  2. 4.1 The role of marketing - notes
  3. 4.1 The role of marketing - questions
  4. 4.2 Marketing Planning - notes
    1. Marketing planning
    2. The marketing mix
    3. The Total Product Concept
    4. Ethics of marketing
    5. Marketing audit
    6. Porter's five forces
    7. Porter's five forces - activities
    8. Marketing objectives
    9. Market research - introduction
    10. The role of market research
    11. Primary and secondary research
    12. Primary research - information gathering techniques
    13. Observations - case studies
    14. Group-based market research
    15. Market research - summary
    16. Questionnaires
    17. Sampling
    18. Methods of sampling - introduction
    19. Main methods of sampling
    20. Sampling errors
    21. Market segmentation
    22. Consumer Profiles
    23. Types of segments
    24. Demographic segmentation
    25. Psychographic segmentation
    26. Psychographic segmentation - case study
    27. Geographic segmentation
    28. Industrial markets
    29. Targeting
    30. Positioning
    31. Corporate image
    32. Position/perception maps
    33. Unique selling point/proposition USP
    34. Marketing strategies and tactics
    35. Sales forecasting
    36. Qualitative forecasting/data
    37. Forecasting and correlation
    38. Forecasting techniques
    39. Constructing time-series analysis
    40. Moving average
    41. Four point moving average - worked example
    42. Identifying the seasonal variation
  5. 4.2 Marketing planning - questions
  6. 4.3 Product introduction - notes
  7. 4.3 Product - questions
  8. 4.3 Product - simulations and activities
  9. 4.4 Price - notes
  10. 4.4 Price - questions
  11. 4.4 Price - simulations and activities
  12. 4.4 Promotion - notes
  13. 4.5 Promotion - questions
  14. 4.6 Place (distribution) - notes
  15. 4.7 International marketing - notes
  16. 4.7 International marketing - questions
  17. 4.8 E-commerce - notes
  18. 4.8 E-commerce - questions
  19. Printable version

Psychographic segmentation

Psychographics is concerned with people's lifestyle, their attitudes, emotions, personality, drive and values. It is clearly an area where firms may turn to psychologists to offer advice. All segmentation attempts to produce groupings which firms can target with appropriate goods and services. However, marketers must be careful not to 'stereotype' by pandering to social classifications which have little basis in fact.

Behavioural characteristics might refer to how many times a customer buys a particular product or service during a period of time and how brand loyal they are.

Some products are almost entirely the domain of professionals and are sold to them and not to the general public e.g. medical equipment.

There are many lifestyle choices that will influence purchasing behaviour. One of the most significant areas of the last few years is environmentalism and the desire to lower one's carbon footprint. This lifestyle choice has produced a whole array of products choices such as organics and low energy innovations. Other lifestyle choices relate:

  • concern for animals, have led to cosmetics retailers marketing that they their products have not been tested on animals
  • sports and hobbies
  • care for others - giving to charities or buying their products
  • status goods e.g. yachts, jewellery and fast cars
  • home entertainment - individuals who look to have the latest gadgets

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The marketing industry enjoys producing acronyms or nicknames for behavioural groupings:

  • Yuppies - Young Urban Professional
  • Yummies - Young upwardly mobile
  • Dinkies - Dual income, no kids
  • Geeks - A person who is single-minded or accomplished in scientific or technical pursuits but is felt to be socially inept
  • Tweenagers - A child between middle childhood and adolescence, usually between 8 and 12 years old, technically not a teenager (being less than thirteen years old), but starting to act like one
  • Boy racers - people, usually males in their late teens or early twenties, who "cruise" around in vehicles modified with loud exhausts and stereos, and/or modified body kits
  • Dimwit - Dual income mortgage we're in trouble

All of these terms are shorthand for groups of individuals with particular purchasing behaviours.

One interesting psychographic classification is based on attitudes and motivations with three distinct segments:

  • Subsistence types - customers who select products and services on the basis of price, looking for value for money and bargains. They will seek out those reduced stickers in supermarkets!
  • Discriminators - Customers who select products and services on the basis of quality rather than price, following the principle that 'you get what you pay for'.
  • Hedonists - individuals who look for instant gratification and so will live for the 'now' rather than saving for the future. These are 'party types who will spend all (or sometimes more) than their income on enjoying themselves ... all the time! The rich may lead this lifestyle but lower income groups may do so by using credit.

A comprehensive list of humorous business acronyms, including marketing examples, can be found here.