Classical marketing texts define marketing as a process of identifying and satisfying needs and wants. I would argue that this is still the best definition in that it delivers the results more cost effectively than any other. To further enhance cost efficiency it is increasingly evident that psychographic factors are more important than demographic factors. […]

Classical marketing texts define marketing as a process of identifying and satisfying needs and wants. I would argue that this is still the best definition in that it delivers the results more cost effectively than any other. To further enhance cost efficiency it is increasingly evident that psychographic factors are more important than demographic factors. an increasing number of highly successful businesses including APPLE and VIRGIN group are focusing on psychographics ahead of demographics. given that most purchases are emotionally driven psychographics are more meaningful and potent. Given the diversity of our communities, psychographs provide more useful and actionable insights than demographics. What is more the markets often end up being larger and the triggers for purchasing are more readily identified. It can make marketing a lot more cost effective. And it is not hard. It just means thinking differently.   This issue will be discussed in detail on THE…