Book Excerpt: 'The 50-Plus Market'
Geodemographics can be used to describe the characteristics of consumers in the catchment areas of retail outlets. The promotion and merchandising of retail outlets can be optimized for the types of consumers in their local market. The accuracy can be enhanced by combining trading data from other outlets with similar geodemographic segments.There is a global set of geodemographics segments that apply to older people. If a marketing strategy extends over multiple countries, there is the potential to use the same global geodemographic segments.
In some countries, people's ages can be predicted by combining geodemographic segmentation with publicly available information. In the UK, this data can be gleaned from the electoral register. If the age of consumers is an important marketing factor, then this technique provides a powerful way to predict its value.
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