What is meant by psychographic segmentation?

Psychographic segmentation refers to the practice of dividing a market based on consumer lifestyles, values, interests, and personalities. This approach goes beyond just the demographic characteristics of consumers, such as age and income, to understand the motivations behind consumer behavior. By examining psychographics, marketers can tailor their messages and products to align more closely with the underlying beliefs and lifestyle choices of their target audience.

For instance, a brand may segment its market to target environmentally conscious consumers by emphasizing eco-friendly practices and products. This type of segmentation allows companies to create targeted marketing strategies that resonate on a deeper level with consumers, fostering stronger connections and brand loyalty.

The other options involve different forms of market segmentation that do not focus on the internal aspects of consumer behavior. Geographical segmentation looks at physical location, demographic segmentation deals with measurable statistics such as age and income, while behavioral segmentation examines patterns like purchasing frequency, none of which capture the psychographic elements of lifestyle and values as effectively as the correct choice does.