MANAGEMENT

Detailed explanation-1: -Psychographic segmentation divides buyers into different groups based on social class, lifestyle, or personality traits. Behavioral segmentation divides buyers into groups based on their knowledge, attitudes, uses, or responses to a product.

Detailed explanation-2: -Income and occupation are psychographic segmentation variables. The lodging industry is particularly effective in using income segmentation.

Detailed explanation-3: -Psychographic segmentation is defined as a market segmentation technique where groups are formed according to psychological traits that influence consumption habits drawn from people’s lifestyle and preferences. It is mainly conducted on the basis of “how” people think and “what” do they aspire their life to be.

Detailed explanation-4: -Psychographic segmentation involves dividing your market into segments based upon different personality traits, values, attitudes, interests, and lifestyles of consumers. This segmentation is advantageous because it allows you to engage in product design and marketing in a focused manner.