Psychographic Segmentation of Young Adult Consumers - A Key to Developing Sustainable Marketing Strategies

Abstract

The Indian retail market is the fastest growing sector in the Indian economy and offers tremendous potential to the modern marketer. The predominant factor that can be attributed to this progressive scenario among other things is the emergence of youth as a powerful consumer segment. Understanding this crucial segment in depth and developing specific marketing strategies is important for business sustainability. By targeting the youth population in India, retailers will be investing in the future as they will be able to influence and create loyalty from the start. Marketers would be able to devise more effective strategies to tap this segment if they were able to get insights into their psychographic profiles. This paper substantiates this central point with findings from previous studies on youth and psychographic segmentation.

Keywords: Psychographic Segmentation, Youth, Consumer Behaviour