I would appreciate any help in addressing this question. I have a fair grasp of the subject but am not able to put it in words or compile it properly. Thanks a lot in advance for your help on this.
Discuss and identify demographics and psychographics for one of the four pairs. Select only one.
- Porsche automobile and Ford pickup trucks
- Dial soap and Neutrogena soap
- Southwest Airlines and American Airlines
- Wal-Mart and Nordstrom
If demographics look at characteristics of people whereas psychographics look at lifestyles and behaviors, the key to a successful marketing effort would be to attempt to match demographics to psychographics to find the population who would be most interested in the product and more inclined to a purchase.
Demographic characteristics..."include age, income, education, status or type of occupation, region of country and household size. Demographics can also include the age of children, home ownership, home value and urban or rural location".
"Psychographics take this a step further: These include people's lifestyles and behaviors ? where they like to vacation, the kinds of interests they have, the values they hold and how they behave."
"Understanding the psychographics of your target market can be very revealing. Information about their likes and dislikes goes a long way in making determinations about whether or not they are likely to purchase ...
The 575 word solution first reviews the two terms and then applies them to practical situations in an understandable format. Included in the solution are a number of cites for further information.