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A demographic profile identifies characteristics of a market segment, including age, gender, income, family size, education, and buying habits. Companies can collect this information through surveys or government reports to tailor marketing campaigns. Broadcasting companies also use demographic profiling to attract commercials. However, response rate and accuracy can be issues.
A demographic profile is a business tool that identifies different characteristics when companies attempt to define a market segment. Common features in the profile include age, gender, income, family size, and education. Other more specific articles in the demographic profile can look for information about a consumer’s buying habits. These questions seek to identify how often a consumer purchases a type of product. The data collected from the profile allows the company to tailor future marketing or product campaigns to a specific group of people.
Companies can collect demographic information in several ways. Large sets of demographic profile information are often available in government reports. Federal agencies, states or cities often create profiles for specific geographic regions or municipalities. While the information provides a good overview, it is often too broad for business use. A common way to gather more specific demographic information is to use a survey or other marketing tool to collect consumer data.
Demographic surveys often include a series of questions related to a company’s marketing objective. Surveys are sent by mail or are an electronic form that a consumer can fill out via the Internet. With technology constantly advancing, electronic surveys are becoming the norm. Companies can send the survey by email or attach a short survey to the electronic shopping cart on the company’s website. Using these demographic profiling tools allows a business to collect data from people who are already associated with their products.
Broadcasting groups are another set of companies that make heavy use of a demographic profile. These companies look for information on the age and breadth of people who watch or listen to various programs. The profile data collected here typically comes from electronic means, with profile data compiled by individuals allowing their viewing or listening habits to be monitored. A big goal for demographic profiling here is to attract commercials for various businesses. Advertisements during popular shows allow a broadcaster to increase revenue and reach specific shows.
A demographic profile is by no means accurate or complete information from a marketing perspective. Companies need to be sure to ask the right questions first in order to identify the specifics that matter most to the business. Response rate is another issue that a business can face with these profiles. A small sample of a large population may not be indicative of the overall group within a region. Making important decisions with limited information can lead to problems if the information gathered is inaccurate about the use of consumer products.
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