Demographic Analysis in Marketing
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Using Best's Market-Based Management, the paper considers the role of demographics in characterizing markets, and also in forecasting long-term market trends. The paper uses the example of MBA students in the first case and of Buick automobiles in the second.
From the Paper:"Demographics are a key aspect to characterize markets, in part, because demographics are often easily quantifiable. Demographics include age, ethnicity, gender, national origin and similar identifiable traits that are fact-based and not open to interpretation. Demographics do not refer to a person's political beliefs or religious beliefs, but instead to education level or income. Demographics can be useful in that people of similar demographics may well make similar purchase decisions if only because their incomes..."
Cite this Term Paper:
Demographic Analysis in Marketing (2008, December 01) Retrieved December 10, 2023, from https://www.academon.com/term-paper/demographic-analysis-in-marketing-124757/
"Demographic Analysis in Marketing" 01 December 2008. Web. 10 December. 2023. <https://www.academon.com/term-paper/demographic-analysis-in-marketing-124757/>