Dividing the market on the basis of personality and/or lifestyles is referred to as _____.

Question

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Psychographic segmentation is dividing the market into groups based on variables such as personality traits, values, attitudes, interests, and lifestyles. It focuses on understanding consumers' behaviors, preferences, and motivations, which can guide marketing efforts to appeal to their unique needs and desires. Geographic segmentation is dividing the market based on location or region, demographic segmentation is dividing the market based on factors such as age, gender, income, and education, socio-economic segmentation is dividing the market based on social class or income level, and behavioral segmentation is dividing the market based on consumer behavior and decision-making processes.

Dividing the Market on the Basis of Personality And/or Lifestyles