Demographic Data
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One of WidgeCorp's regional sales managers contacts you with a request. In preparation for rolling out a new type of snack food, she's been trying to make sense of some demographic data available through the AMA (American Marketing Association) and is overwhelmed. She explains to you that there are two files which contain reports generated from AMA's (American Marketing Association) website. AMA's website provides free demographical services where one can choose from a variety of criteria and generate reports based on the U.S. Census decennial data obtained at the beginning of each decade. These files contain 4 reports: General Summary, Census Trend 1980 to 2000 Summary, Occupation and Employment Summary, and Income Summary. In these demographics reports the data for many of the variables is distributed into many different categories. For example, there are 7 different categories for Educational Attainment in the General Summary Report and 20 categories for Employment by Industry in the Occupation and Employment Summary Report. Help this regional sales manager see a smaller number of comprehensible categories.
Using all four demographic reports: (Overview, Trend, Employment, and Population Detail) for zip code 60614, choose four variables (including at least one from each report) and explain how you would collapse the categories and why.
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Solution Summary
Demographic data for WidgeCorp's regional sales manager is examined.
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Businesses can reach success when demographic data for a product brand is effectively targeted to the consumer market. In review of the AMA demographic data the approach is to first hone on what is most imperative for the business, i.e., snack food manufacturer capturing an increased consumer share market audience. For instance, if the core demographic relates to the following then the ability to hone on certain data demographics can be more strategic:
a. Single or divorced female
b. Single or divorced male
c. Children from age 5 and up to 17 and Adult from 18 up to 70
d. Income levels from $10,000 up to $55,000 annually
e. Education from K â?? 9 up to Bachelor degree
f. Hispanic ethnicity
g. Black Ethnicity
h. Asian
The strategic approach for assisting a business in focusing on core variables data is in relation to what type of consumer will benefit from the product. In the above example of core consumers that will most likely purchase the snack product presents a more tailored template to what Census data should be selected and sub-catogoried.
Letâ??s take a look at 4 variables from the U.S. Census Data report and why the collapsing of the categories are ...
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