QS Study

Demography refers to study for about the different aspects of the population. Markets can be divided into demographic factors like age, gender, education etc. The various demographic factors are :

Demographic Segmentation

  • Age

The primary method of analyzing markets by age is to divide the total population into age groups and analyze the wants and needs of each group.

  • Gender

Marketers devote much attention to male and female differences in Today, marketers segment female groups into college girls, working women, housewives. etc. Again, male groups can be further classified.

  • Income

Buying patterns depends on the income of the consumers. No two individuals or families spend money in exactly the same way. If a researcher knows a person’s income, he can predict with some accuracy wants and needs of that person and how those wants are likely to be satisfied.

  • Education

The market can be segmented on the basis of education matriculation or less. undergraduates, graduates, post-graduation, etc. Most studies show that the highly educated people spend more than the poorly educated in respect of housing, clothing, recreation, etc.

  • Family Size

The consumption patterns of certain products definitely vary with the number of people in the household. Manufacturers of certain products such as ice-cream market family packs.

  • Family Life Cycle

The market can be segmented as bachelors, newly married with grown-up children, older married couples, etc. For selling tours and vacations. Life Insurance policies etc., this segmentation is of use.

  • Race and Religion

Consumption patterns of certain products differ on the basis of religion and race, such as alcohol and meat products.