Profiling Markets With Psychographics
Profiling the Soft Drink Market with Psychographics
The intent of this analysis is to evaluate the various psychographic segments of the soft drink marketplace. There are seven different psychographic segments included in this analysis, each with drastically different expectations, needs, wants and preferences for soft drinks overall. Beginning with the Thrill Seekers, and progressing to the Trendy Quality Seekers, then the Price-Value Shopper who shops for soft drinks on price and availability, then the Social Shoppers, Brand Aspirationals and Price-Sensitive Affluents round out the entire series of segments. Each of these segments have drastically different needs and approaches to purchasing and consuming soft drinks as this analysis illustrates.
Analysis of Psychographic Segments
Each of the segments are analyzed with specific focus on their preferred types of soft drinks, ways of purchasing them, and a short analysis of their demographics as well. The differences in each segment are significant from the perception of what soft drinks are supposed to deliver in terms of enjoyment, opportunities to socialize, and meaning in their lives.
Thrill Seekers
See adventure, fun and the chance to connect with and have fun with friends as the very best part of life, the Thrill Seekers are often involved in two or three sports activities and several different social programs. The are very extroverted, confident, and see life as meant to be fully lived, without holding anything back. Their decision of which soft drink top buy is more motivated by the energy kick and rush of caffeine in addition to taste. They are very brand loyal to high energy drinks including Red Bull and also like Monster drinks as well. It is common to find them at parties well into the early hours of the morning, looking to have fun with friends and also experience life...
Their age groups range from 15 to 26, predominantly male, and often have at least three dozen Xbox 369 games in addition to motorcycles, jet skis and a snow board. Thrill Seekers is also a referent group for the Price Value Shopper who sees their role in life as serving members of this segment, many of which are children of Price Value Shoppers.
Trendy Quality Seekers
Upwardly mobile young professionals the majority of which are Dual Income No Kids (DINKS), members of this psychographic group are more focused on entertaining, traveling and attaining their own goals professionally and personally than any other group in this study, the trendy quality seekers are motivated by a good bargain and also retaining brand loyalty. Like the Price Sensitive Affluents, they are very focused on getting a good deal and winning the game of shopping, the difference however with this segment is that they will pay even more than the Affluents for a specific brand or label. Their up-and-coming status means a lot to them as they entertain often, and they want to portray the right image as well. They go to concerts, travel, read and often do home improvement projects to have fun and also get a sense of accomplishment in their lives. Their age is between 21 to 35 and they are often in mid- to upper income groups. Their DINK role opens up significant incremental income to pursue their passions as well. Marketing soft drinks to this group stresses their aspirations fo traveling globally and have a good time with friends, and also being connected with those they value the most, close family and friends.
Price-Value Shopper
Shops at mass merchandisers and discount retailers including WalMart as members of this segment see it as their duty to shave every possible cost from family expenses in an effort to make ends meet. Their mission in life is to enable their families to make ends meet every…
