Demographics

In order to create a successful business, it is essential to know the demographics of the target audience you wish to sell your product too. This will affect the pricing, packaging, promotion and where you are going to sell your product. A provider must fully understand the demographics of their target audience in order to create a product relevant to that target audience. By including information about a person's age, gender, income and education this tells a marketer how likely a person is to buy their product. In the modern day, it is essential to cater to one specific group rather than try to satisfy a mass audience's needs and interests. By researching the demographics, this gives the seller a higher advantage when meeting the needs and interests of their target audience.

This table is a clear indication to the classes in our society today. Tables like these help sellers to target their product at a specific class. For example, by targeting a music product at college or university students, the sellers may make the product cheap as they are aware college/university students don't have a lot of income. It is unconventional to create an expensive digipack for a demographic group such as Group E as they wouldn't be able to afford it. Demographics provide the seller with a criteria for a particular group of our society; therefore the seller can create their product in order to cater for the particular groups needs.