The key to understanding consumer buying motivation within a target market is to consider some of the differences in expectations between several of the demographic segments contained within that target market group. Product expectations can be: the lowest price for a person in a lower income level; a higher price but having more features, benefits, and value for an executive in a higher income bracket; designed specifically a younger age group; or having certain attributes to help a person identify with his or her background or nationality.
For example, if a person wants to buy American-made products only, that person could be young, older, wealthy or on a limited budget, therefore, fitting into one or more demographic groups, such as highly education, earning over $100,000, and African-American.
Hello! Marketing to specific demographic groups within a target market can be as challenging as it is exciting! How can different demographic groups (age, gender, education level, nationality, family size, or income segment) fit into one target market?
Here are two examples that can help in analyzing the demographic breakdown within a target market for a technology product.
Older shoppers: Do they really need or not need the latest and most intricate ...
The key to understanding consumer motivation is to consider some of the differences in expectations between various demographic segments. Also, several demographic groups could have similar expectations which would dictate the reason that the demographic groups would fit into one target market group. Understanding consumer motivation to purchase is critical for marketing departments to develop the right campaign showing how the product meets the expectations of various demographic groups within a target market.