Question

state two point of why demographic data are important​

Answer 1

Answer:

Demographics is the collection and analysis of broad characteristics about groups of people and populations. Demographic data is very useful for businesses to understand how to market to consumers and plan strategically for future trends in consumer demand.

Explanation:

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Answer 2

1) To group customers based on variables including age, gender etc.

By grouping consumers using demographic data, it allows businesses to understand each segment, what they want and how they want it. It will help the business to market each product differently based on the consumer groups they are targeting.

2) Businesses can use demographics to determine the next step of their growing business.

By understanding what their customers are looking for, they would be able to determine things such as; would customers like a new location and if so, how far would they be willing to go out of their way to get to there. They could also help to avoid making costly mistakes and this will help to push the business forward.

3) To customise products to specific consumer groups

Demographic data can be used to customise products by finding out what is wanted by consumers, and changing the existing product to fit the desired outcome. The whole idea of customising products would be to save time and money on products that aren’t wanted or that don’t fit your consumer specification.