Targeting Customers' Minds to Obtain Real Value
Conclusion: In the past, age and income were reliable predictors of behaviour but now, and in the future, the old definitions do not depict consumers well. Regardless of the industry, businesses in the future must gain quality consumer psychographic research either, syndicated or customised, if they are to operate confidently in evolving consumer markets. The other ingredient to the emerging customer strategy is segmenting and categorising the market by what consumers think, hope and wish for rather than any other fixed metric like age or even income. This involves slicing consumer markets into separate dimensions to gain a better view on how they operate and what will drive them in the future.
Marketing management has always wanted to get inside customers’ heads and it will be essential to do so to understand what they want, dream of, and ultimately buy.