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Deliverable Length: 5–7 pages (not including the cover page and the resource page)
Description
There are many types of customers and potential customers in the market for products and services. Demographic data are the statistical information regarding a population. Examples of demographic data include age, gender, married or not married, children or no children, educational level completed, and income level. Psychographic data are the information about a customer’s interests, values, and personality traits. Examples of psychographic data categories are values, leisure activities, attitudes, and interests.
Watch this video to learn more about demographics and psychographics: Difference Between Demographics and Psychographics/Marketing.
Using what you have learned, use the following questions to guide your writing:
Explain the purpose of demographics in marketing research.
Describe examples of demographics and their impact on determining the customer group for a brand.
What are psychographics and their purpose? Provide examples to illustrate your points.
Is it necessary to determine both demographics and psychographics to determine the target group of customers? Why or why not?
Please use the MKTG632 U3 IP Template to complete this assignment.
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