Demographic and Psychographic Information Critical...

Demographic and psychographic information are critical to effective marketing communications. For the owner of a small clothing store, being able to understand who your customers are and how they think is essential to growing your business. We know that you do not have a large marketing budget, so the key marketing challenge is to use your limited marketing resources effectively. This memo will outline to you how demographic and psychographic information can be critical not just to reaching your target customer but to convincing them to visit the store and do business with you. Demographic information is used to segment the market. There are hundreds of thousands of women in the metropolitan area, and it is essential that you know which of them are coming to your store. This information can be useful in marketing communications in a few different ways. The first is that if you know who your customer is you can ensure that all communications are directly targeted to that customer. The second is that if you know who is not coming to your store, you can target specific segments within that group to entice them to come to the store. The former strategy brings in more business from your existing target market; the latter strategy broadens and adds to your target market in order to bring in more business. There are a number of different variables that comprise demographic information. These include age, life cycle stage, gender, income, social class and lifestyle (Riley,Show MoreRelatedCustomer Relationship Management : A Strategy Of Managing Customer Relationships1523 Words   |  7 Pagesintegration of customer information throughout a company in order to achieve maximum customer satisfaction and retention. CRM process is to collect, store, and analyze customer interaction information (customer knowledge), transforming the practice of marketing research. 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