Introduction
Integrated communication plan is an important tool in the marketing arena. It forms the basis upon which important decisions are arrived at by the management in reinvigorating its efforts to securing a strong base. It is important to study the market so that the recipient of the goods and services are well understood (Cahil, 2006). The plan is an integration of the different elements in the market that exist to give birth to the success of a business organization or company. For an integrated communication plan to be complete, the elements that fall in place include demographic aspects and psychographic view among others. This memo will be an insight into looking my business of making designer women’s clothing into these two category elements.
The Demographic elements of age and income
Age and income are pivotal determinants before an entrant decides on the types of products and services he/she has to introduce into the market. These demographics are required so that the ideal consumers are recognized. Further importance of these essential is that they help in developing market strategies such as product packaging, advertisements, business location and pricing. By studying demographic features, a business organization avoids to make misplaced strategic plans. People with the same demographic profile usually share the same purchasing behaviour. In terms of age, people at different age have different purchasing power. The younger generation has a more spending power than the older generation and thus can influence purchasing behaviour in families. Income capacity is different to different persons, therefore their purchasing power defers significantly (Rima, 1996).
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The Psychographic Elements
The psychographic segmentation is another fundamental aspect to look into in preparing an integrated communication plan. Buying motives and interests are among the broad essentials of psychographic elements. These two essentials determine the level of usage of the brand of the commodity, in this case the women clothing. One needs to determine what exactly are the tastes and preferences for the market dwellers. The buying behaviour can be studied from either sellers that had been in the market long before the new market players or through the consumers of the products or both. Buying motive and interest can be affected by other factors such as beliefs, customer personality and the product values. Therefore, since not a single psychographic element can exist on its own, a survey conducted needs to incorporate almost all of them, for better results to be arrived at.
Interest is particularly an effective mechanism on the customer on the basis of experiences and contact with the specific goods. Therefore, as a market entrant, one requires knowing those goods that have had a positive impact on the consumers. In our case, clothing that the consumers can be positively identified with are the best target. Surveys can easily reveal this aspect. The survey may incorporate questions on the consumers (Waller, 2012).
These two category elements have great influence on the marketing communication. Their importance rides on the fact that they assist in understanding the markets. Consumers require goods that match their needs. The broader perspective of the marketing communication thus must capture the wishes of the people. It is the consumers’ expectations that must be reflected in the plan. Any decisions arrived at are dependent on these essential elements namely; buying behaviour, interests, age and income.
Types of Demographic Data and Psychographic Information would be most Helpful
Demographic data can be gathered from various sources. In our case scenario, the Bureau of Labor Statistics can be an incredible source. This department always publishes the consumer expenditure survey on their websites for accessibility and for other future planning mentality. The chamber of commerce in the relevant city or town can also serve as another source. Various trade and professional associations also have these demographic data at their disposal. Apart from the aforementioned, the library is also another center where these statistics can be traced. Most libraries have updated information on the population of a locality as a source from researches from various personnel.
- Cahill, D. J. (2006). Lifestyle market segmentation. New York: Haworth Press.
- Rima, I. H. (1996). Labor markets in a global economy: an introduction. Armonk, N.Y.: M.E. Sharpe.
- Waller, D. (2012). Developing your integrated marketing communication plan. North Ryde, N.S.W.: McGraw-Hill.
