Researching the Consumer
Sanjaya Shunglu Pathfinders: India and Mrinal Sarkar Data Analysis, Pathfinders: India, IndiaThe marketing process for any brand normally begins with defining the target audience. One of the key tools used in this process is 'Segmentation'. Various methods are used for carrying out segmentation. These range from simplistic gut-feel to segmentation based on depth of consumption and, finally, advanced multivariate analysis techniques such as Cluster or Discriminant Analysis.
One segmentation approach which has yielded results particularly in the modern context, is 'Psychographic' segmentation. Psychographic segmentation essentially tries to go beyond rational parameters such...