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Impact Of Psychographic Segmentation On The Performance Of Small And Medium Scale Enterprises In Lagos State, Nigeria
- BANKOLE O. A.* Ekiti State University
- AKINRUWA T. E Ajayi Crowther University, Oyo, Nigeria
- Received May 2025, 1st Revision June 2025, Accepted July 2025, Published online: August 2025
Abstract
The study examined the impact of psychographic segmentation on small and medium scale performance in Lagos State. Specifically, it examined the effect of personality characteristics, lifestyle and social class on SMEs performance in Lagos State. The population consisted 11,663 small and medium scale owners and managers in Lagos State. The sample size was 387 respondents derived from Yamane model. The descriptive statistics were mainly frequency tables while the inferential statistical method was multiple regression analysis. The results showed that psychographic segmentation has a positive influence on SMEs performance and is significantly related. It is concluded that individual characteristics, lifestyle and social class should be considered in segmentation.
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KEYWORDS: Market Segmentation, Psychographic Segmentation, SMEs Performance.