PSYCHOGRAPHIC PROFILING AND INCREASED SALES EFFICIENCY: A STUDY OF SELECTED SMEs IN ILORIN METROPOLIS

Abstract

Psychographic profiling is becoming more and more important, but little is known about how its variables value perception, personality traits, and social class. Hence, this study examined psychographic profiling and increased sales efficiency in some selected SMEs in Ilorin metropolis with specific objectives to (i) examine the relationship between psychographic profiling and patronage loyalty and; (ii) determine the influence of value perceptions on pricing strategy.  A survey research design with a population of 1,628 registered SMEs owners was used with stratified and simple random techniques and a sample size of 321 obtained through the Taro Yamane formula. Hypotheses were tested through multiple regressions. The findings show that psychographic profiling has a significant relationship on patronage loyalty with an R-square value of 53.3%, value perception have significant influence on pricing strategy with R-square value of 50.2% The study concluded that psychographic profiling plays a critical role in fostering patronage loyalty and value perception significantly influence pricing strategies within SMEs. It therefore recommended that SMEs should prioritize the integration of psychographic profiling into their marketing strategies and continuously assess customer value perceptions through surveys and feedback mechanisms. Also, SMEs should conduct thorough market research to understand the demographics of their target audience better.