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Marketing: Consumer analysis

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Business & Management Librarian

Shikha Sharma

Contact: sharmash@mit.edu
Room E53-168K
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Consumer analysis resources

What is consumer analysis?

imageThe objective of consumer analysis is to identify segments or groups within a population that have similar needs. Consumer analysis can help answer questions such as:

 

  • Who buys the product or service?
  • Where do these consumers live?
  • What income levels are in the market?
  • What is the age pattern in the market?

 

Answers to these questions help identify target markets for specific products or services and advertising efforts.

Develop a consumer: 

  • Demographic Segmentation: includes age, gender, income, race, marital status, education, occupation, home ownership, number in the household and age of the home.
  • Psychographic Segmentation: looks at the values, activities, interests, and opinions of the population, what we often call lifestyle.
  • Behavioral Segmentation: Divides the market by observable behaviors such as usage, purchasing decisions, and brand loyalty.