EXERCISE 3: Consumer Segment Information
- Find more information on the consumer segment or audience that is the focus of your research.
Who is your audience?
Two kinds of information will help you profile your market: demographics and psychographics.
Demographic data, or simply demographics, refers to things about people that can be objectively counted and verified. While race/ethnicity, gender, income and age are major demographic categories, this can also includes things like educational attainment and ways of getting to work.
The primary source of this kind of data in this country is the US Census.
Remember, demographics doesn't capture the beliefs or attitudes of those populations--that's psychographics.
Psychographics look at groups of people based on their attitudes or beliefs. Sometimes referred to as "lifestyles," this category is of particular interest to marketers and advertisers.
Psychographics usually build on demographics, which look at groups based on quantifiable things like race, age, marital status, income, etc. For example, if you wanted to open an upscale restaurant in a particular neighborhood in a city, you'd probably do a two-part marketing study: demographics will tell you what percentage of the residents are married, have a college education, and have an income over $100,000 (among other things); psychographics, on the other hand, will take that same neighborhood and tell you how many are willing to pay for good food or are busy with no time to cook.
Good Databases for Demographics
Good Databases for Psychographics
These databases are useful for psychographic information.
Finding Demographic Information--Video
This video uses the topic of car sharing as an example; however, you should search for your own consumer segment or audience.
Finding Psychographic Information--Video
Click on video to play and click on box in bottom righthand corner to enlarge. Click Esc to exit fullscreen.
This video uses the topic of car sharing as an example; however, you should search for your own consumer segment or audience. Also note, under the Mintel Reports USA section there's a whole section on Retailing and Apparel.
Creating a Mintel Profile
1. Access Mintel via link in 'Good Databases for Psychographics' box
2. Click 'I Agree' on bottom of first page (conditions of use)
3. On main Mintel page, click 'create profile' (see red arrow below):
4. On next page, create your profile. When you are done, click 'create profile' and you will log into Mintel.