A Study of Psychographic Variables Proposed for Segmentation for Personal Care Products through Factor Analysis

Abstract

Segmentation is the need of modern marketing because to serve the entire market is no more profitable. The very first step of market segmentation is to identify which variables are most first step of market segmentation is to identify which variables are most important to segment or to group the customers into homogeneous groups. Usually more than one variable is used to give the description of market segments. The most common variables used are demographic, geographic, psychographic, and behaviuoral. In case of personal care products in the present study psychographic variables are taken in to consideration. The human behavior is dominated by the internal psycho of the individual and the way it treat with the society. The main psychographic variables as values, social interest, and attitude are broadly taken into consideration. Factor analysis is used to get the factors affecting the purchase of personal care products.

Keywords: Psychographic variables, personal care, factor analysis, segmentation