consumer characteristics
...l influences and intentions towards some objects. Beliefs a consumer may hold both positive belief towards an object as well as negative beliefs.2 2Consumers hold certain feelings toward brands or other object. These feelings are based on beliefs, but there may also be feelings which are relatively independent of beliefs.3 _____________________________________________________________ 1. Perner, L, (1998), Psychology of consumers, Journal of Marketing Vol3 No 3, pp. 1_33. 2. IBID 3. IBID Firms seek to differentiate their products relative to competitors due to the rapid increase of consumer diversity. This is where market segmentation comes in. Market segmentation provides a way of markets in a way that can increase profitability without investment in systems and sales resources needed for one to one marketing.1 Objectives of market segmentation: Market segmentation is the first step in developing marketing strategy. Customers are grouped with similar needs, desires and responses. The objective is to meet the needs of selected customers through a more profitable way. Segmentation bases: 1) Demographics: Consumers grouped according to age or household composition. 2) Socio economic characteristics: According to occupation, income, education, price sensibility and brand preference. Product usage: This could be defined by asking questions about disposition to use as awareness, used in the past, would consider using in a survey. To reach the most attractive segments a large scale single source survey should be used to ask consumers about product disposition and media usage or by relating demographics to product usage. Psychographics: Personality, attitudes, opinions and lifestyles. Generation: It includes people born in the same period of time. _________________________________ 1. Nelson, C, (2001) Market segmentation Journal of Marketing Research Vol 2 No 3, pp.1_5. Benefit sought: People differ; some are price sensitive others seek quality or service. Some switch brands frequently and others are loyal to brands. Geography: People who live in the same area may share similar characteristics because in areas which have more expensive properties than others, people with similar socio economic characteristics may group together and they also have similar shopping options. Geodemographic: This identifies groups of small geographic areas that has similar characteristic. One segmentation basis will not suit all marketing decisions. Nor will suit all industries food, detergents, motor vehicles all satisfy several needs and have several levels of buying involvement. 4/2 Psychographics Psychographics seeks to describe human characteristics of consumers that may have bearing on their response to products, packaging, advertising and public relations efforts. Psychographics are used to determine lifestyle characteristics and traits that can be correlated into targeted marketing programs. It allows for a clearer image of an individual, making it easier to how to market products for them. They also emphasize consumer activities, interests, and opinion also known simply as AIO.1 • These are eight psychographic segment that have been identified therefore the following table gives a quick overview of some of the key descriptions for the groups. Actualizes Independent, leaders, risk takers, successful. Fulfilled Organized, self assured, intellectual, mature. Believer...