Nature Scope and Imporatnce of Demography
Changing demographics of India and its impact on the market trends
Introduction
A market segment consists of a group of customers who share a similar set of needs and want. (Kotler, 2009)
The identification of these market segments requires research on a large scale by the marketer. These market segments help the industry in identifying the potential market for their product. These potential customers are then targeted for sales of the product.
Hence the identification of market segments correctly and accurately plays a major role in the growth and development of the industries.
In this research, the primary objective will be to identify the market segments and study its development over the years. Emphasis would also be the effects of these market segments to various industries concerned. Another important feature of the research would be to identify oneself to a market segment.
The parameters for the purpose of market segments would be:-
Population
Region/Geography
Gender
Literacy
Income
Methodology
For the purpose of research, secondary data has been collected. Secondary data refers to the “statistical material which is not originated by the investigator himself but obtained from someone elses records, or when primary data is utilized for any other purpose at some subsequent enquiry it is termed as secondary data”. This type of data is generally given in newspapers, magazines, internet etc.
The secondary data