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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.
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.
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.
[3] The main dimensions of the VALS framework are resources (the vertical dimension ) and primary motivation (the horizontal dimension ). The vertical dimension segments people based on the degree to which they are innovative and have resources such as income , education , self-confidence , intelligence , leadership skills, and energy.
Audience segmentation is a process of dividing people into homogeneous subgroups based upon defined criteria such as product usage, demographics, psychographics, communication behaviors and media use. [1] [2] Audience segmentation is used in commercial marketing so advertisers can
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.
[3] [4] Researchers have reported a range of sizes of the LOHAS market segment. For example, Worldwatch Institute reported that the LOHAS market segment in the year 2006 was estimated at $300 billion, approximately 30% of the U.S. consumer market; [ 3 ] [ 5 ] [ 6 ] and, a study by the Natural Marketing Institute showed that in 2007, 41 million ...
In marketing, geodemographic segmentation is a multivariate statistical classification technique for discovering whether the individuals of a population fall into different groups by making quantitative comparisons of multiple characteristics with the assumption that the differences within any group should be less than the differences between groups.