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Introduction Of Demographic Profile

Demographic analysis is considered as a population-based study emphasising on specific factors such as gender, age, and race. As mentioned by Kumar et al. (2020), demographic data or demographic profile determines the socioeconomic information presented statistically including education, employment, income, birth rates, and others. In the context of the present business environment, determining demographic profile has become one of the integral parts of driving business success by meeting the demands of the target audiences.

In most of the cases, it is identified that non-government, corporate and government organisations utilise demographic profiles to determine and learn about the characteristics of specific populations for different purposes including market research, and policy development. On the other hand, most of the business entities considered demographic profile analysis as a strategic tool to determine whether their offered services or products influence their target customers in accordance to which strategic business decisions can be made. The primary objective of a demographic profile or demographic information is to offer information related to the research participation (Madhukar and Krishnamurthy, 2018). Along with this, the demographic profile also helps to determine whether specific individuals within a specific study are a representative sample in relation to the target audience to generalise purposes.

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Why Is a Demographic Profile Useful In Marketing Techniques?

In this dynamic business environment, marketing plays a significant role for companies to promote their services or products in front of their target customers more accurately and systematically. In this regard, An et al. (2018) highlight the fact that demographics are an integral part of marketing, especially for small businesses. The key reason behind this statement is that considering demographics in marketing helps markets to identify the specific customers or groups of customers based on certain needs, demands, expectations, and characteristics.

With the help of demographic profiles, specific brands can determine the way brands influence specific customers by location, age, income, job titles, and others. The market approach can also be enhanced and improved with the help of appropriate demographic data.

It is identified that over the past few years, due to the rapid changes in customers and execution, it becomes difficult for marketers to target the right person or make the right business decision to drive sales (Udriyah et al. 2019). Demographic segmentation in marketing in this regard plays a significant role for businesses to target specific groups of potential customers based on certain demographic factors including education, gender, age, income, and others.

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What Are The Techniques Of Demographic Analysis?

Following are the two specific techniques that can be considered to perform demographic analysis strategically

Inverse projection

Inverse projection is considered as the systematic method to estimate accurate and efficient demographic indicators of a specific population within which crucial registration data are available. This method is found to utilise crude data including total death, birth, life expectancy, and others (Papetti, 2021).

Mathematical analysis

Mathematical analysis is found to be another systematic technique that can serve as beneficial in demographic analysis. It helps to determine the change in customers' interests and their execution over a certain time based on factual statistical evidence or data.

What Is The Purpose Of A Demographic Profile?

In the context of marketing, the primary purpose of the demographic profile is to allow businesses to understand specific background characteristics of target audiences including ethnicity, race, age, work situation, and others. As mentioned by Thwala and Slabbert, (2018), marketing activities or strategies are found to be highly relied upon the way customers or target audiences show their preferences or interests in specific products, services, or brands. In most cases, it is identified that due to a lack of consideration of demographic profile, companies fail to foster their business growth by promoting their brands, services, or products accurately. In this regard, it can be mentioned that understanding demographic profiles is important for business success in this present competitive business environment.

On the other hand, Narayan and Singh (2019) mentioned that with the help of strong demographic profile data, different key consumer aspects such as purchasing power, residences, transportation, family status, age ranges, and others could be determined. Thus, it can be mentioned that demographic profile analysis includes business operations in terms of marketing approach, packaging, and pricing strategy.

What Are Some Examples Of Demographic Profiles?

In marketing, demographic segmentation illustrates the way marketer’s segments specific markets into smaller groups based on family income, age, gender, qualification, and others. It is found to be a difficult and complex task for marketers to interact with the customers belonging to the different demographic and create a strong marketing plan. Thus, the following are primary examples of demographic profiles that serve as beneficial for businesses to develop systematic and strong marketing approaches.

Age segmentation

Age is considered as one of the most commonly identifiable elements in demographic profile analysis. Every age group is found to be associated with different characteristics including needs, expectations, interests, and others. For example, young people are found to show their interest in modern gadgets, attractive cars, fashionable clothes, and others. On the other hand, middle-aged people are found to invest in essential products and they are found to be price-sensitive customers (Gajanova et al. 2019). In this regard, it can be mentioned that every age group is found to have specific requirements, which requires to be considered while developing the marketing strategy.

Gender segmentation

Every gender is found to be associated with specific characteristics that are instrumental as well as distinct in the decision-making process. For example, females are found to show their interest in fashionable products, whereas males are found to be attracted by the latest gadgets, devices, cars, and others. By determining these differences, car manufacturers or fashion retailers can develop their marketing plans to target specific groups of people.

Ethnicity and race segmentation

Ethnicity and race are found to be the most sensitive elements that business entities require to be concerned with primarily while developing a marketing strategy. Products or services promotions are found to be accepted differently by different races or ethnicities and these elements require to be addressed appropriately to gain customers' loyalty.

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How Do You Create A Demographic Profile?

In order to develop a demographic profile, the following steps can be considered.

• Determine and develop broad descriptions of the ideal audiences or customers for specific products or services
• Perform systematic research about the demographic elements of the identified ideal groups of customers
• Identify the requirements and needs of the target customers
• Determine the channel where customers find or gain information about specific products, or services that particular brand is going to offer