Know Your Market’s Demographics and Psychographics

Most business owners if not all of them would always do a thorough market research before building a concrete marketing strategy. Some essential things you would like to know about your target market are the following:

• How they think? – their preferences
• Where they live? – demographics
• Who they are? – age range, sex, civil status and the likes

By answering these questions, you can definitely get enormous power to know the things that can trigger the purchasing capabilities of your market. We can divide this article into two categories: The Demographics (outer life) and psychographics (inner life), by understanding them you can create a great marketing strategy that can lead you to success and revenue.

When you are doing your market research you tend to look for a definite answer when talking about the description of your market, remember that this is not the case, you do this to get an average of your captured market and not the totality, because we are all complex individuals. In that case, you can only get a definite answer in your target market’s psychographics.

In identifying your target market’s demographics, you describe their monthly income, age; place where they usually go and where they live. Getting the answers from this would let you know where to advertise. While psychographics describe your market’s inner life, questions pertaining to this would be like: what they value and believe, how they think, what motivates them and what they feel; here you can create the right moves in your marketing.

There are actually four main differentiation of market’s personality: Introvert, Extrovert, Feeler and Thinker. These are classified into quadrants.

Upper Left Quadrant – Introverted/Thinker: they are known as “The Analyzer”, they are the one who are:
• Slow to make decisions
• Want to get facts and details fast
• Enjoys analyzing the facts
• Tend to see what’s not working

Upper Right Quadrant – Extroverted/Thinker: known as “The Driver”
• Tend to focus on results
• Goal focused
• Will tend to not care about people’s feelings – especially if it block their way to success
• Driven

Lower Right Quadrant – Extroverted/Feeler: known as “The Visionaries”
• Sees the big picture
• Not so good with details
• Sees the connections between things
• Generates many ideas
• Creative and energetic
• Tend to be innovators

Lower Left Quadrant – Introverted/Feeler: known as “The Caregivers”
• Sensitive to other people
• Always want consensus and harmony
• Tend to see how actions will affect others
• Take into consideration how others feel