This is the era of competition, earlier people are not so much aware of about the product and its benefit for himself but nowadays customer knows each and everything about the product and also they know about the alternative of the product.
So here we can discuss 5 Most important things which are you should know about the demographic condition before going to launch your product and sell your product.
1. Age
2. Sex
3. Education
4. Income
5. Family Size
So here we can discuss 5 Most important things which are you should know about the demographic condition before going to launch your product and sell your product.
1. Age
2. Sex
3. Education
4. Income
5. Family Size
1. Age: The Consumer has a different needs and wants and its change with age. The marketing mix may, therefore, need to be adapted depending on which age segment or segments are being targeted. The basis of age you should select your product because some product may be harmful or may be it's not beneficial for such age groups, so you should be conscious of it.
For Example, Men’s beauty cream and Baby cream
2. Sex : Dividing a market into different groups based on sex, has long been common for many products including cosmetics, clothing and magazines. In the 1960's car companies such as Toyota began to realise the purchasing power of women, creating marketing campaigns, and then cars, specifically targeted at the female market. Many suggest that the range of interior and exterior colours schemes, and emphasis placed on safety factors by car manufacturers today, is due to in no little part to their desire to market cars to women, as well as men. So you cannot sell ladies product for, get using by a male, yes sometimes males are purchasing that product for gifting for his lover ones.
3. Education: - Dividing a market into based on education groups, nowadays people are more educated rather than earlier days. So now they are quality conscious not quantity conscious. Earlier people or customer doesn’t aware of the quality, they always purchase the things based on quantity. But the era has changed and customer perception also changes towards the product. So be aware of it.
4. Income : - Dividing a market based on the income level of consumer, each and every country have all categories of people which have income level (High, Medium and low level)so based on this you can select your product which area your product should be the target. For example, you can’t sell the Mercedes Benz the people who have a low-income level or you cannot sell the product like low-quality product to the high-income level person. So carefully you can design your product for different income level.
5. Family Size :- It’s the most important part of the demographic segmentation because the family size affects the all levels of demographic segmentation. Some family have very small size means nuclear family and some have a big size of family means, joint family.so the income, education, age, and sex ratio of family size could affect the market. So you should think also about the family size of the customer.
These are the most important aspects which are you should know and understand before going to launch your product or sell your product
For Example, Men’s beauty cream and Baby cream
2. Sex : Dividing a market into different groups based on sex, has long been common for many products including cosmetics, clothing and magazines. In the 1960's car companies such as Toyota began to realise the purchasing power of women, creating marketing campaigns, and then cars, specifically targeted at the female market. Many suggest that the range of interior and exterior colours schemes, and emphasis placed on safety factors by car manufacturers today, is due to in no little part to their desire to market cars to women, as well as men. So you cannot sell ladies product for, get using by a male, yes sometimes males are purchasing that product for gifting for his lover ones.
3. Education: - Dividing a market into based on education groups, nowadays people are more educated rather than earlier days. So now they are quality conscious not quantity conscious. Earlier people or customer doesn’t aware of the quality, they always purchase the things based on quantity. But the era has changed and customer perception also changes towards the product. So be aware of it.
4. Income : - Dividing a market based on the income level of consumer, each and every country have all categories of people which have income level (High, Medium and low level)so based on this you can select your product which area your product should be the target. For example, you can’t sell the Mercedes Benz the people who have a low-income level or you cannot sell the product like low-quality product to the high-income level person. So carefully you can design your product for different income level.
5. Family Size :- It’s the most important part of the demographic segmentation because the family size affects the all levels of demographic segmentation. Some family have very small size means nuclear family and some have a big size of family means, joint family.so the income, education, age, and sex ratio of family size could affect the market. So you should think also about the family size of the customer.
These are the most important aspects which are you should know and understand before going to launch your product or sell your product
