IP 3

There are many types of customers and potential customers in the market for products and services. Demographic data is the statistical information regarding a population. Examples of demographic data include age, gender, married/not married, children/no children, educational level completed, and income level to name a few. Psychographic data is the information about a customer’s interests, values, and personality traits. Examples of psychographic data categories are values, leisure activities, attitudes, and interests.

Watch this video to learn more about demographics and psychographics: Difference Between Demographics and Psychographics/Marketing

Using what you have learned, use the following questions to guide your writing:

1. Explain the purpose of demographics in marketing research.
2. Describe examples of demographics and their impact on determining the customer group for a brand.
3. What are psychographics and their purpose? Provide examples to illustrate your points.
4. Is it necessary to determine both demographics and psychographics to determine the target group of customers? Why or why not?

Please use the MKTG630_U3_IP_Template to complete this assignment.

4 Pages not including Title and reference page.