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A comprehensive demographic profile is a powerful tool for marketing. Detailed information about potential customers provides insight into how to best sell them a product. [ 4 ] The term "demographic profiling" is sometimes used as a euphemism for industrial espionage .
Using demographics, a marketing manager can try to grasp what certain people think and what they are willing to buy. [1] By understanding how various characteristics of the population reflect their tastes, demographic marketers get an idea of the probability of the sales returns of a launched product in a given area.
Demographic targeting is a form of behavioral advertising in which advertisers target online advertisements at consumers based on demographic information. [1]They are able to achieve this by using existing information from sources such as browser history, previous searches as well as information provided by the users themselves to create demographic profiles of consumers.
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 ...
The second dimension, Resources, reflects the ability of individuals to pursue their dominant self-orientation and includes full-range of physical, psychological, demographic, and material means such as self-confidence, interpersonal skills, inventiveness, intelligence, eagerness to buy, money, position, education, etc.
[6] The field of marketing research is much older than that of market research. [7] Although both involve consumers, Marketing research is concerned specifically about marketing processes, such as advertising effectiveness and salesforce effectiveness, while market research is concerned specifically with markets and distribution. [8]
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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 ...