In the world of marketing the difference in the value and validity of Psychographics, Demographics and Behaviors is heavily debated.
Why? Because each category of consumer market research provides a different type of insight into consumers enabling a unique type of targeting.
- Consumer Demographics provide basic information such as age, ethnicity, gender, occupation and income. While this information is valuable it only tells you if a consumer can afford something or could be interested in purchasing a product targeted to a specific age group or gender.
- Consumer Behaviors are the detailed insights into where a consumer shops, what they buy and how often. This is very powerful information because it allows a business to tailor its’ inventory and message to the consumers in their geographic area.
- Consumer Psychographics provides the insights into what a consumer thinks, feels and desires. Purchasing, decision making is all driven by a need, a desire to perhaps be up to date with the latest fashion trends, be the first to have the latest mobile phone, invest very carefully due a discomfort with the stock market. What psychographics do is provide you, the marketer or business, with a deep understanding of what drives consumers to make purchasing decisions today and what will drive them to make these decisions tomorrow.
In the end consumer market research is only as valuable as the hands in which it sits. Sometimes the term in and of itself can be intimidating. But once you unlock the power of deep insights into consumer behaviors you will have the tools that you need to build a more profitable business.
