Assignment 2

Task 1:
There are six different ways that markets can be segmented. One of the ways is by using psychographic segmentation. Psychographic segmentation involves putting people into different categories by social class, lifestyle, activities, opinions, interests, behaviour and attitudes.
Within this segmentation is socio-economic segmentation. These are classified depending on their similarities in income, occupation and education. There is a table used called the social grade definitions table that is used for classifications. Social grade | Social status | Occupation | A | Upper middle class | Higher managerial, administrative or professional | B | Middle class | Intermediate managerial, administrative or professional | C1 | Lower middle class | Supervisory or clerical and junior managerial, administrative or professional | C2 | Skilled working class | Skilled manual workers | D | Working class | Semi-skilled and unskilled workers | E | Those at the lowest level of subsistence | State pensioners or widows, casual or low grade workers |

Lifestyle looks at the people and not the product trying to relate lifestyle patterns to purchasing behaviour. A lifestyle is a way that someone behaves, which they have got from part of the community. There are a few models of lifestyle; one of the most well-known is sagacity life cycle groupings. This basically looks at how people have different aspirations and behavioural patterns at different stages in their life.
There are four main stages of the life cycle which are pre-family, family, late and dependant. Dependant – mainly under 24s, living at home or full time students
Pre-family – under 35s, have been established with their own household but no children
Family – Parents under 65, with one or more children