What are Market Demographics?
By: David Afana
Understanding market demand and supply units and forces calls for a segmentation of fundamental influences.
To this end, it is imperative for every product or service to be launched in complete synchronization with the evaluation
of the demographics that rule the business arena. The word demography means related to the human population. Market demographics
refer to all the data that is collected for the purpose of providing information to organizations such as government offices
and marketing departments. Details of the population in relation to their age, sex, employment status are usually included
in marketing demographics. This data is usually used to make policy decisions and for research of the market conditions.
The main objective of market demographics is to understand the different segments of the population and also to get a clear
idea of the needs and wants of the different segments in the society. On the basis of this information organizations can build
a marketing strategy. The major types of demography that is included in marketing is the age of the targeted group, the gender
ratio, the level of the income that exists and the race and the ethnic groups that exist in the targeted group. The targeted
audiences for a product or service need to be potential clicks-to-sale initiators, directly influencing business turn-around.
After the data has been used to develop a target market, the demographics may be studied further in order to create an
appealing product design. If the product already exists in the market then the organization will get an idea about the changes
that need to be made in the product and the strategies that need to be altered in order to increase the sales. These alterations
and subsequent revisions in the qualitative and quantitative dimensions make a huge impact on sales and business longevity.
About the Author
As the founder and owner of Afana Enterprises, David Afana has been assisting
Network Marketing Professionals grow their business with proven success. Please feel free to visit David's website at http://www.InjectMoreReps.com or email David directly at email@example.com.
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