Marketing is the means by which companies use the research and analysis of their customers to formulate strategies that build brand awareness, make offers, cross promote and convert viewers into ongoing clients.
This is the phase that companies start developing demographic and psychographic data on their customers and prospects.
- Demographic Data -
Description about the person or company.
- Family size
- Family lifecycle
- Generation: baby-boomers, Generation X, etc.
- Social class
- Job Title
- Company Size
- Number of Computers
- SIC Codes
- Psychographic Data -
Description about a customers lifestyle.
Why they buy or how they buy.