Yugocean
Valued Contributor
Before you launch a product of yours in the market, you must know the size of the market for it. So the marketing strategy of knowing the age group should not be forgotten during the survey.
For example, if your research reveals that your chosen area has a high concentration of the elderly or children, you'll know that your market, at least for cosmetics, is small. Hence, you will get a base of comparison for your product.
The market for comfortable clothes, tonic, comfortable chairs, sticks, etc. is more for the elderly. If the number of children is higher, then this will create a large market for candy, toys, and children's books.
You will also know which product to release in limited quantities if the number of age groups in the market is low. So as to avoid the possible loss of unsold goods after offloading more products.
Be it footwear or clothing, launching your product in the market without surveying the age group would be like gambling.
For example, if your research reveals that your chosen area has a high concentration of the elderly or children, you'll know that your market, at least for cosmetics, is small. Hence, you will get a base of comparison for your product.
The market for comfortable clothes, tonic, comfortable chairs, sticks, etc. is more for the elderly. If the number of children is higher, then this will create a large market for candy, toys, and children's books.
You will also know which product to release in limited quantities if the number of age groups in the market is low. So as to avoid the possible loss of unsold goods after offloading more products.
Be it footwear or clothing, launching your product in the market without surveying the age group would be like gambling.
