Wednesday, May 11, 2011

Who Needs the 2010 Census?

You, if you're segmenting your market on the basis of demographic variables such as age, family size, and so on. Although behavioral and attitudinal variables are often more powerful for segmentation purposes--because they describe how people act, think, and feel, not just their characteristics--most marketers apply more than one variable to identify and target specific markets.

So keep an eye on the US Census Bureau's data releases to learn more about the US population as a whole and state by state. This month, the Bureau is releasing demographic profiles for each state and the District of Columbia, offering a summary of age, sex, family size, and other facts, including house ownership vs. rentals.

The May 4th data release, for example, indicates that more people rent than own homes in Washington, D. C. (58% rent vs 42% own). That contrasts sharply with the situation in West Virginia, where many more own than rent (73% own vs. 27% rent). If you're selling goods and services directly related to home ownership, D.C. may not be the prime market for you.

If you're marketing goods or services for younger folks, however, think about D.C., because the median age there is 33.8, compared with the median age of 42.7 in Maine.

That's why you need the 2010 Census. Check it out!

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