Leveraging Psychographic Segmentation for Competitive Advantage in Niche Markets
In today's hyper-competitive business environment, understanding your customers' behaviors, motivations, and lifestyles is critical to gaining a competitive edge, especially in niche markets. This is where psychographic segmentation becomes invaluable. Unlike demographic segmentation, which categorizes customers based on observable characteristics such as age, gender, and income, psychographic segmentation dives deeper into the psychological aspects of consumer behavior, offering richer insights into what drives purchase decisions.