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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.
It includes concepts such as demography, economy, natural forces, technology, politics, and culture. The purpose of analyzing the macro marketing environment is to understand the environment better and to adapt to the social environment and change through the marketing effort of the enterprise to achieve the goal of the enterprise marketing.
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 ...
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.
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 AMA reviews this definition and its definition for "marketing research" every three years. [14] The interests of "society at large" were added into the definition in 2008. [ 15 ] The development of the definition may be seen by comparing the 2008 definition with the AMA's 1935 version: "Marketing is the performance of business activities ...