Definitions
Psychographics:
"Analysis of consumer lifestyles to create a detailed customer profile. Market researchers conduct psychographic research by asking consumers to agree or disagree with activities, interests, and opinions statements. Results of this exercise are combined with geographic (place of work or residence) and demographic (age, education, occupation, etc.) characteristics to develop a more 'lifelike' portrait of the targeted consumer segment." (businessdictionary.com)
Market Segmentation:
"...marketing term referring to the aggregating of prospective buyers into groups or segments with common needs and who respond similarly to a marketing action. Market segmentation enables companies to target different categories of consumers who perceive the full value of certain products and services differently from one another." (Investopedia.com)
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