Research consumer behavior
Mintel Academic and Statista have the most comprehensive reports about consumer trends for different types of products (personal care, apparel, consumer electronics, etc.)
Recommended resources
Help
Segment your market
You can divide a market by demographic factors, psychographic characteristics, geographic location, and perceived product benefits (Meyer & Graham, 2014).
Recommended resources (demographics and geography)
- Consumer Expenditure Survey (BLS.GOV)High-level data on current buying habits of Americans, by demographics & type of purchase/service.
Recommended resources (psychographic characteristics)
- Claritas 360 This link opens in a new windowSegmentation Reports (JMU subscription) show how segments are distributed in different geographic areas.
- American Time Use Survey (BLS.GOV)Recent data on how American spend their time, tracking activities such as paid work, childcare, and socializing.
Help
Forecast demand for product
To forecast, you might need to determine units sold, competitors' market share, or predict population growth for your target audience.
Recommended resources (units sold)
Recommended resources (local market)
Recommended resources (population trends)
- Claritas 360 This link opens in a new windowChoose the PopFacts Demographics reports to see how a particular population is forecasted to grow.
Plan advertising (e.g., strategies, rates) aka marketing mix
These resources will help you think about strategies for reaching your customers and how much it will cost to do so. Look under Datacenter or Data for the best information.
Note: AdAge may ask you to enter your name and email to download its fact packs. This is normal.
Recommended resources (strategies & budget benchmarks)
- Insider Intelligence This link opens in a new windowProvides market data, trends, statistics, and analysis on the Internet, e-business, online marketing, media, and emerging technologies.
