Understanding your demographic

Understanding a demographic is an essential step to figuring out if that demographic statistically fits in a company's target demographic.For example, a tattoo parlor would likely not target a bible youth group as their ideal demographic even though the people in the bible youth group were inside the target age of the tattoo parlor.Understanding demographics will help a company know where to focus their marketing campaigns or how to present their marketing campaigns.Here are a few demographic and tips on how to reach each demographic.

Age

Age groups are usually divided into "generations."Age is one of the most important dempgraphics because everyone falls into one age division.People in the fifties and sixties may be considered baby- boomers.People in their late twenties and early thirties may be considered Generation X.People born from the early nineties to the present would be considered Millenials.Each age category represents a different demographic with a different culture.

Baby-boomers will likely be looking into retirement, investing for their retirement, and traveling.This group is still young enough to be active, but getting old enough that they need more medication.They are usually the group with money as well.They may still be working, but they have worked long enough to be at the top of the pay scale.The best way to reach this group is through magazines or television.They are experimenting with the internet, but are still wary of online advertising.

Generation X is likely finishing up graduate school or will have recently started their career.Many of them are married or getting married.Some have small children and are looking for fun activities for the whole family.Many of them will be looking for a house or purchasing toys and baby clothes.This generation is pretty tech savvy, but still communicates primarily through verbal conversation.This group is reachable through television, internet, radio, etc.They are pretty comfortable with internet ads.

The oldest of the Millenials are in the middle of the undergraduate degrees.They are used to having information at their fingertips because they grew up during the age of the internet.They communicate primarily through texts and social networking sites.This group moves and thinks quickly.This group is most accessible through the internet and television.They have very few qualms with internet, and probably do not listen to the radio.

Socio Economic Status

Each socio economic situation denotes a different kind of culture.For example, the family of four that lives on forty thousand dollars per year is likely living a different lifestyle than the family of four living on one hundred and fifty thousand dollars per year.The first family likely does not go out to eat very often.They won't go on extravagant trips or spend money on things that won't last.The second family may not eat in the house very often.They go on big trips to destination spots, and do not worry about waste.

Marketing to the first family may focus on the durability, strength, and usefulness of an item, while marketing for the second family would focus on the popularity, prestige, or glamour of an item.

Understanding a demographic is essential to making a marketing campaign both successful and effective. Some other demographics to consider are race, religion, gender, and geographic location.By considering all of these demographics together, a company will be able to pin point the most effective places to direct their marketing efforts.