Research Consumers

Consumer research is used to identify who is potentially buying a business's products or services so the business can create or modify their goods to better fit their consumers' needs. Some questions asked while conducting consumer research include:

• Who are the current customers?
• Where do these customers live?
• What are the income levels in the market?
• What is the age pattern in the market?

Much of this data can be found via government resources such as the United States Census Bureau or the Bureau of Labor Statistics. Other organizations also compile this information and freely offer parts or all of it on the internet.

• 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.

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