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A demographic profile is a form of demographic analysis in which information is gathered about a group to better understand the group's composition or behaviors for the purpose of providing more relevant services. In business, a demographic profile is usually used to increase marketing efficiency.
Firmographics (also known as emporographics or firm demographics) are sets of characteristics to segment prospect organizations. [1] What demographics are to people, firmographics are to organizations. However, Webster (2005) suggested that the term "firmographics" is a combination of demographics and geographics.
Demographic marketers use demographics in marketing research, and the assessment of the changing trends of consumer behavior. Demographics can be called a science, and demographic marketers can be called scientists. A demographic is used to describe individuals who are from a particular area.
Standard audience surveys collect data on audience size and basic demographics. Audience quality is inferred from an audience's demographic profile, but do not measure audience engagement. [18] Audience-research methods were questioned during the 1990s with the arrival of new media, particularly digital media, and changes in public media habits.
Psychographics is defined as "market research or statistics classifying population groups according to psychological variables" [1] The term psychographics is derived from the words "psychological" and "demographics" [2] Two common approaches to psychographics include analysis of consumers' activities, interests, and opinions (AIO variables), and values and lifestyles (VALS).
The Demography of the World Population from 1950 to 2100. Data source: United Nations — World Population Prospects 2017. Demography (from Ancient Greek δῆμος (dêmos) ' people, society ' and -γραφία (-graphía) ' writing, drawing, description ') [1] is the statistical study of human populations: their size, composition (e.g., ethnic group, age), and how they change through the ...
Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...
Market research is an organized effort to gather information about target markets and customers. It involves understanding who they are and what they need. [1] It is an important component of business strategy [2] and a major factor in maintaining competitiveness.