Psychographic segmentation of youth in the evolving Indian retail market

摘要

Indian youth is emerging as a very powerful and significant consumer market. Marketers would be able to devise more effective strategies to tap this segment if they were able to get insights into their psychographic profiles. The present study, therefore, seeks to understand the psychographic along with demographic variables of the youth in India. Based on cluster analysis, four psychographic clusters are identified: 'Get-going Adopter', 'Inner Value-oriented Conservative', 'Political and Sport Enthusiast' and 'Independent Life Lover'. The findings reveal significant psychographic differences among the identified clusters and suggest that it is more meaningful for the marketer to concentrate on two segments, 'Get-going Adopter' and 'Independent Life Lover' that account for 70% of the respondents rather than the other two clusters and design their marketing strategies accordingly.