Demographics/Socioeconomic & Psychographics of Consumers
Demographics essentially describe the characteristics of a particular people associate with the success of particular products. This usually takes into consideration the defining aspects, for instance, age, level of education, and current status quo in society among others.
At present, there are numerous business and other institutional organizations pursuing the model’s applicability in the modern business context. On the other had psychographics is an traditional entity of developmental marketing that takes into account aspects regarding personal lifestyle and other individual behavioral dimensions. These two concepts have been elementally applied in various contextual circumstances as a feature of marketing in key organizational and business settings. In this particular setting clients have the ability to create a distinct profile, which adequately defines their respective personalities. Subject of Study: Travelocity.com (travel booking website) Looking at the Travelocity website, this site has effectively applied the concept of demographics and psychographics to a great extent considering the multinational perspective on which it elementally operates. On demographics this site targets members coming from multiple nationalities and cultural backgrounds. The buyers visiting the site essentially have to create a specific buyer profile, which is primarily based on the country one is visiting in essence. These specialized profiles created therefore reflect different personalities derived from the visiting nationality profiles, for instance, New Zealand, Honduras, German, and Colombia among others (Travelocity.com). Amazon.com (Internet Shopping Web site) Amazon is essentially an online shopping portal similar to other similar agencies, for instance Ebay.com. The website pursues similar elements of the demographic and psychographic model while taking into account the respectiv user dimensions. Looking at Amazon.com in isolation from other similar sites the marketers of the site have specialized on marketing products having a potential resale value starting from electronics to textbooks (Amazon.com). This has consequently created a distinct user profile for those going majorly for reseller products like books, and electronics. Furthermore, this serves to expose the changing context in the respective consumer behaviors relative to the market potential of the aspect being viewed. Facebook.com (social networking web site) Facebook is essentially an online social organization; however, in the recent past it has witnessed a sharply decreasing performance in terms of key context attributes. The fact that it is a social networking site implies that majority of its visitors are essentially disapproves its current incremental market value. “Sharp identification of your target consumers lies at the heart of your marketing strategy. Your most logical feature point if departure is a careful definition of specific categories of customers whom you hope will be your most fruitful prospects” (Cannon 15)Myspace.com (social networking website) MySpace is essentially a social networking site where users create their respective user profiles and consequently begin to enjoy the feature services as prospective clients. In its psychographic model, the firm aims at attaining futuristic market potentials by bordering on its clientele’s individual market definitions are based on the critique of formulating market individual variables that go hand in hand with their marketing objectives (MySpace.com). For instance, majority of its clientele come are young people in the age bracket of 17 to 26 according to a study. This a population ready to spend significantly on the consumable provided by the respective agency. Marketing Lesson Learned based on the websites and the 17 interviewed Femalees between the ages of 20-29. The case study carried aims at four critical online marketing sites, which are MySpace.com, Amazon.com, facebook.com, Youtube.com and expedia.com.
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The major aim of the marketing survey is analyze the applicability of the presented product variants and their effect upon deliverables. From this case study the lesson learnt are essentially wide and diverse borrowing upon marketing objectives and other key guiding fundamentals. These include: The fact that age plays a major role in defining a working psychographic model and formulating a market potential demographic index. The utilization of the web portal or the internet as a marketing tool has increased to a great extent leading to the development of virtual packages being offered on the internet.The fact that the web portal is increasing becoming a common means of purchasing items by these group of young people essentially falling in the age gap between 20 and 29 years of age.
For instance, focusing on the aspect of lifestyle niching as a more feasible market alternative, “Many consumer-product marketers have been successful at tracking the changing demographics, psychographics, and latent demands and interest of America’s turning adult generations” (Cannon 15) Summary & Recommendations The concept of demographics and psychographics of consumers has a distinct place in the contemporary marketing practice with regard to emerging market frontiers. This is especially feasible in the online marketing domain through the various running social and marketing websites to which users joining are required to voluntarily create personal profiles, what are evidently used for identification reasons for certain product deliverables. It is therefore paramount that the two aspects deserve their place in the current business and economic setting with regard to changing consumer behaviors.