VALSTM Psychographic: A New Way of Market Segmentation in India

Consumer behaviour is very unique in nature. Each of the consumers have different attitude towards the product. That is why marketing for a product is not everybody’s cup of tea. But some where they are connected to each other. Marketers nowadays are searching the connection between them in order to make their marketing process easy and affordable. This can be done only by creating the market segmentation. The bases of marketing segmentation can be demographic segmentation means age of the consumers, income, sex, education etc., may be geographic segmentation means region, climate, population etc., or even behaviour segmentation means occasion, benefits etc. or even psychographic segmentation mentioned in VALS. The purpose with the thesis is to provide a framework for exemplifying how psychographic market segmentation especially VALSTM can determine the right target customers. Along with that it will also be searched to find out the usefulness of VALSTM to tap the Indian market in most efficiently. Study says this particular system is already very successful in country like US and other developed countries. Now it is the turn for India.