Demographics.

The Importance Of Demographic Data

Demographic data has a massive influence on marketing and research for the majority of businesses, for example here in the UK we have an ageing population, so when researching ideas and possible improvements on already existing products we can use demographic data to collect all of these results  thus making marketing easier.

     There are a few main aspects that are important when discussing demographics such as:

• Understanding the ideal customer
• Lowering marketing costs 
• Identifying the opportunities 
• Discovering and creating a Unique Selling Point 
• Increase the revenue 

    All of these points are vital and are paramount to consider when researching, understanding the ideal customer can be done through collecting data in different locations ( in order to collect different results due to the different cultures in multiple cities etc) this can then give you an idea on the location and popularity of the specific thing you are researching.

    Marketing can be very expensive, therefore by using demographics to target your ideal customer by location, you can determine the best way to market products, one example being social media vs flyers. Printing costs for flyers is expensive, so if the majority of your target audience are on social media the best way to go about advertising could be on popular social media applications, or advertisements on tv during popular shows / days / times.

   To conclude, when doing research the importance of demographics is crucial in order to hit the correct audience and sales, without spending too much money or having things go to waste. We should consider demographic data when improving existing products and creating new ones.