Given below are two statements:

Statement I: In psychographic segmentation of the market, the science of psychology is used for understanding and segmenting the consumers. 

Statement II: Segmenting consumers based on psychographics rests on identifying consumers' state of mind, and hence helps in piecing together with a more incisive profile of the target consumers. 

In light of the above statements, choose the most appropriate answer from the options given below.

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UGC NET Paper 2: Management 30th Sep 2020 Shift 1
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  1. Both Statement I and Statement II are true
  2. Both Statement I and Statement II are false
  3. Statement I is correct but Statement II is false
  4. Statement I is incorrect but Statement II is true

Answer (Detailed Solution Below)

Option 1 : Both Statement I and Statement II are true
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UGC NET Paper 1: Held on 21st August 2024 Shift 1
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Detailed Solution

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Important Points

 Statement I: In psychographic segmentation of the market, the science of psychology is used for understanding and segmenting the consumers. 

  • Psychographic segmentation has been used in marketing research as a form of market segmentation which divides consumers into sub-groups based on shared psychological characteristics, including subconscious or conscious beliefs, motivations, and priorities to explain and predict consumer behaviour.
  • It is the research methodology used for studying consumers and dividing them into groups using psychological characteristics including personality, lifestyle, social status, activities, interests, opinions, and attitudes.

Hence statement I is correct.

Statement II: Segmenting consumers based on psychographics rests on identifying consumers' state of mind, and hence helps in piecing together with a more incisive profile of the target consumers

Psychographic segmentation:

  • It is the process of creating clusters of customers who share similar characteristics and then grouping them together.
  • These clusters will form subsets (or segments) of customers based on their: Social class, Lifestyle, Interests, Values, Personality, Social Status, Religion, Opinions, Attitudes, Hobbies, etc.
  • For these Psychographic surveys are used to study and classify people according to psychological criteria like their attitudes, aspirations, values, lifestyle, and personality
  • It helps in identifying consumers' state of mind and hence helps in piecing together with a more incisive profile of the target consumers. 

Hence statement II is correct.

Therefore, we conclude that the correct answer is Both Statements I and Statement II are true.

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