Demographics is the study of a population based on factors such as age, race, and sex. Governments, corporations, and nongovernment organizations use demographics to learn more about a population’s characteristics for many purposes, including policy development and economic market research.
Most Common Demographics Examples Age. Gender . Race . Marital status. Number of children (if any) Occupation. Annual income. Education level.
A target market refers to a group of potential customers to whom a company wants to sell its products and services. Identifying the target market is an essential step for any company in the development of a marketing plan. Not knowing who the target market is could cost a lot of money and time for a company.
The population changes in accordance with three demographic variables: Fertility, mortality, and migration. Population growth or decline in a society is influenced by the birth rate, the death rate, and the migration rate .
Demographic Synonyms – WordHippo Thesaurus . What is another word for demographic ?
Demographic segmentation groups customers and potential customers together by focusing on certain traits that might represent useful markets for a business. What are the 5 main different segments for demographics ? The five main demographic segments are age, gender, occupation, cultural background, and family status.
Demographic information examples include: age, race, ethnicity, gender, marital status, income, education, and employment. You can easily and effectively collect these types of information with survey questions. That means you can split a larger group into subgroups based on, say, income or education level.
Here are some of the ways companies use demographics in marketing : Social media marketing . Most social media platforms’ key demographics are readily available. Ad spends. Knowing your customers’ demographics can inform your ad spend strategy. Marketing campaign images. Ad and marketing image placement.
Define the three steps of the target marketing process: market segmentation, market targeting and market positioning .
A niche market is a segment of a larger market that can be defined by its own unique needs, preferences, or identity that makes it different from the market at large. For example, within the market for women’s shoes are many different segments or niches .
10 Steps To Target And Connect With Potential Customers Survey Customers . Research Your Competitors And Find Out Who Their Customers Are. Target Ads. Smart Social Media. Respond To Every Email, Tweet, Facebook Comment, And Phone Call; Adjust Yourself As Necessary. Affiliate Marketing. Establish Trust In Your Community: Publish User Reviews, Get Likes, Syndicate Articles.
It can be calculated by dividing the population 0-14 years and 65 years and older by the population that is in the 15-64 year age group. Example: A community has 41,650 children under age 14 and 6,800 persons age 65 and over. The total population is 85,000.
Demographic equation is the mathematical equation which helps determine the change in population over a period of time. It is the number of births minus deaths plus or minus the net migration.
Age is an Important Audience Characteristic Individuals who grow up at the same time are called cultural generations. They often share many of the same experiences as others of the same age group. Understanding Different Generations: Each of these four generations has a different set of values, beliefs, and attitudes.