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What is the difference between demographic and psychographic data?
When should psychographic data be used to make marketing decisions?
Is psychographic data more important than demographic data? Please illustrate your argument with at least two examples.
1. What is the difference between demographic and psychographic data?
Demographic data is data relating to statistical characteristics of human populations based on variables such as: age; family size; family life cycle; gender; income; occupation; education; religion; race; generation; nationality, and social class. While Psychographics data is data compiled from survey answers, subscriptions, memberships, past purchases, etc. and from a variety of topics where respondents are required to complete a series of questions that will later be used to classify them into a segment based upon how they "feel" towards a battery of issues, messages, insights, etc.
2. When should demographic data be used to make marketing decisions?
The difference between demographic and psychographic data is examined.