Market Segment Analysis as an Approach to Demographic Data
"Explore how market segment analysis can be used to understand demographic data in business research. Learn from Teddy Stocking, Business Research Instruction Librarian at the University of Nevada, Reno Libraries, on this effective approach."
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Presentation Transcript
People Data: Market Segment Analysis as an Approach to Demographic Data Teddy Stocking, Business Research Instruction Librarian University of Nevada, Reno Libraries
First Things: Today Data Literacy How do we cultivate it for ourselves? How do we teach it? How do we combat economic illiteracy and misinterpreted data?
About Me Business Research & Instruction Librarian University of Nevada, Reno: R1, Land Grant Flagship University 16,841 Undergrad, 3,877 Grad PTRC Representative Gov-Docs Librarian as assigned Salisbury University: Regional comprehensive, USM, ~7,000 Undergrad, 745 Grad MSBR, Business Research Competencies and ACRL Frames Using Economic Data First used economic data because so much of it is free! America s best databases
Definitions Dem o graph ic Description of the People the age, sex, and racial composition of a population and how it has changed over time through the basic processes of birth, death, and migration.
Market Segment Analysis Sets of Buyers Segmentation Variables Geographic: Location of Residence Socio-Demographic: Psychographic: Benefits, attitudes, values, personality characteristics Behavioral: Types/frequency of use, distribution chanels
Not all American men aged 35 to 44 making $100,000 per year buy a Mercedes in fact, not all of them buy a luxury car. Even worse, not all of them shop for cars at new car dealers. Not all of them buy new cars.Not all of them buy cars for the same reasons or use their cars in the same way. And so on [researchers] missed real market opportunities in the quest for that simplicity.
Case Study: Reno Pizza Our client are college students Geographic: Section of town, kind of dwelling, household size Socio-Demographic: Income levels, race, size of population, age ranges Psychographic: Motivators for ordering pizza Behavioral: How people order, order contents, payment type, service modality
Thank You! Teddy Stocking estocking@unr.edu
