I understand that for a company to do market research to find potential consumers, they have to have a target market in mind. To help them find a specific market, companies will study different demographics in which various groups of consumers will fall into all sorts of categories. Many factors may come into play when being put in these demographics such as age, nationality, hobbies, and even presentation of certain physical parts of the body. With this information companies, will be given a big an idea on who to sell, when to sell, where to sell, etc. This information will also contribute to how the product will be advertised and distributed throughout the nation. Potential of a company to expand its market internationally will eventually arise upon gathering the demographic information. To better profile groups of consumers, they have split generations depending on the age, to give the task of finding a target market, ease and support. The millennials, who are based on the ages between eighteen to twenty-nine, are the generation demographic who some would say are the downturn from the previous generation because Generation X were a lot less spoiled and were considered entrepreneur loners. The milliennials are categorized as the groups of people who are more focused on how they look and how they present themselves to the rest of the world. Those who have piercings other than the earlobes, have tattoos, and are currently unemployed, such as myself, all fall into this category. Some other characteristics of the millennials that relate to me is that “Seventy percent said that they have personal profiles on social networks and that one-in-four are unaffiliated with religion” – Pewsearch.org. I believe that keeping this information in mind when choosing the correct target market is critical for a company to use because it will ultimately determine what categories of generations to avoid and be successful.
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