Are you a market researcher? If yes, then you would be familiar with the terms demographics and psychographics. They are methods used for understanding the target market externally and internally, respectively. In recent times, marketers have observed a paradigm shift in market research. Now, small businesses seem more inclined towards exploring the psychology, lifestyle, attitudes, and the diversified personalities of their target audience.
Demographics focus on the external parameters of the market. For instance, annual income, education, age, occupation, or region. However, the emphasis with psychographics is on market segmentation according to lifestyle, attitudes, social class, and dynamics of personality which help businesses to psychologically connect with their target audience.
Do you understand the psychographical paradigms of modern-day marketing? If not, it is time you learn, and adapt this contemporary marketing trend and psychographic-ally connect with your target market.
The following infographic will help SMB owners and marketers understand the critical aspects of psychographics in contemporary marketing:
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