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Individual Data Memo - Essay Example

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Author : zelda46

Summary

To : Management Team From : Your Name Re : The importance of demographic and psychographic information Date : January 29, 2012 This memo will provide an understanding of the importance of demographic and psychographic information for the company (e.g., Kudler Fine Foods) in developing its marketing strategies…

Extract of sample
Individual Data Memo

This memo will go into detail on how to develop a marketing plan that would be reliable to use throughout the various platforms of media that will focus on a particular market segment in order to increase Kudler Fine Foods’ customer base. To determine the importance of demographic and psychographic information for a company, it would be necessary to conduct an environmental analysis with reference to the age, education, and disposable income of the people residing in Kudler Fine Foods' geographical area will be conducted. The information derived from the environmental analysis will serve as the starting point of a marketing strategy that focuses on a subculture of the population that have similar socioeconomic status (Hawkins, Mothersbaugh, & Best, 2007) to afford the quality of food Kudler Fine Foods offers. The importance of determining the demographics of the population of the target market can be best illustrated with our experience in Encinitas. While Kudler Fine Foods has achieved relative success in Encinitas, data found in their demographics shows that would be ill advised to open a location, or spend advertising money 30 miles south in the city of Chula Vista as what the data will show below. ...
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