Over the weekend I was helping a friend with a school assignment involving a marketing plan. As a part of the exercise, she had to justify her business decisions by taking note of the demographics of Florida’s state capital, Tallahassee. In the outline to the assignment, the key demographics were listed as per capita income, population by gender, and age ranges.
As I worked through the project, it occurred to me how little help typical demographic statistics in reality are for a marketing plan. Certainly such numbers are important criteria in early decision making. If, for example, you are setting out to launch a travel practice in any given area, you want to know sufficient population is present with enough disposable income. Beyond that, however, these are the wrong demographics for marketing purposes. Read the rest of this entry »