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Benefit of psychographic information; consumer motivation

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1. Describe where you fit into marketing demographics and how companies should be marketing to you and or your company. What motivates you to buy a product? What gets your attention?

Please be thought-provoking and relate your own personal experiences. Please try to provide real-world work-place examples.

2. In what ways does studying psychographic information enhance marketing? Describe potential improvement outcomes.

Please be thought-provoking and relate your own personal experiences.
Please try to provide real-world work-place examples.

3. What improvements could your company make in using demographic data, behavioral segmentation and psychographic information in its marketing decisions? How could your company increase the motivation of its prospective consumers?

Please be thought-provoking and relate your own personal experiences.
Please try to provide real-world work-place examples.

*Please provide all necessary references!!!

Thank you.

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Solution Summary

The benefits of psychographic information and consumer motivation is examined.

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Answer 1

Marketing demographics mainly includes five types of demographics namely age, gender, race, income level and ethnicity.

For the purpose of marketing as a customer I come in the youth market segment. I come in the majority community and my earnings are sufficient for a middle class family. The analysis of the demographics would be beneficial for the organization to make the effective marketing strategies to target me. The companies should target me by analyzing my needs according the other customers in the same demographics. My eating habit, culture, social status would be beneficial for the companies to make the strategies of marketing me. The company should also include the competitive advantages in its products and services, which are not offered by the other companies (Hiebing & Cooper, 2003).

There are various factors, which may influence my motive to buy a particular product. The main elements, which motivate me to buy a product, are product features, competitive advantages of the product and relation with my social status. An increase in the social status and competitive advantages are the most important features of the products, which influence my buying behavior. The new ...

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