Looking Beyond Demographics

PeopleI always enjoy the opportunity to spread the word of how market research can help any business.  Last Friday, I had the opportunity to do it again.

During the conversation I was having, we started to talk about a restaurant that my friend is currently working with that is trying to figure out what kind of food the restaurant should serve.  The discussion quickly turned to the conversation of who lives in the area, in other words the demographic profile of the geographic area.

As we were discussing this, I mentioned to him that on projects that I have worked on in the past that as we were segmenting our target markets, we not only looked at demographics, but we also looked at psychographics of those buyers as well.

Demographics look at things you can generally “see” of a group of people like total size, gender, age, composition, and income.  In contrast, psychographics analyze how people live, what interests them, and what they like in relation to their activities, interests, and opinions.

Psychographics versus Demographics

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About J. Nolfo
Well...there is a lot to know. #Cx, #Analytics, #SM, Specialty #AgChem, #StL sports, & more. FT @BASFAgProducts. @Mizzou Alum. Supporter of the #Rhino. Tweets my own. #SMMW17 attendee....Dad...Hiker...Scouter...and so much more.

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