Once this is done, you are better equipped to come up with different marketing campaigns for the relevant segments. The use of natural low-caloric sweeteners as sugar-substitute to formulate foods suitable for people with diabetes has increased in the last years due to the high incidence of the metabolic syndrome. Improve product market fit. For example, an individual who grew up in a rich family may prefer shopping at high-end brand outlets multiple times a week, whereas a customer who grew up in a middle-class family may prefer to shop only for special occasions. The attitude psychographic segmentation variable offers insights into how a customer may behave in different situations and what their preferences are. But, product resources can be saved if segmentation is done on the basis of lifestyle, product development can be made more credible. XM Scientists and advisory consultants with demonstrative experience in your industry, Technology consultants, engineers, and program architects with deep platform expertise, Client service specialists who are obsessed with seeing you succeed. s website, and its clear that they emphasize making customers happy through delightfully simple yet smart tools. Second-party data sharing is most handy when one business doesnt have great psychographic data, or they have an incomplete view of customer data in general, but their business partner has access to data that augments what they already know. Conducting psychographic market segmentation is a critical task for business development and thus, needs special attention. Each company has an opportunity to differentiate by understanding their customers better than their rival. Free eBook: How to drive profits with customer segmentation. Qualtrics research services can help when you want to conduct interviews. What are other uses for psychographic segmentation? has a much higher strategic value in the competitive era. Social media listening analyzes text responses to gauge sentiment and the word on the street about your brand. The marketing agency was probably successful with a specific part of their target audience, but they alienated members of a broader audience that would also have been interested in their services.