How are demographics and psychographics used

Adding demographics and psychographics to your idea

Lesson Details:
February 14, 2020

Video Transcription: So as we continue working on the business idea generation worksheet you've got you are industries you've got your goals you combine the goals in the industries now I want to take you into demographics and psychographics what are these things they're super important demographics are all things you can measure about a person you can they're tangible do they have children what's their income level what's their job what's their education like what are their what's their age religion political view things like that and those are all demographics now on the other hand people aren't just moved by demographics they are something makes them human their fears their desires their secretive and sometimes their interest values their ethics opinions everything that makes a person unique who they are their feelings and sometimes it's lifestyle but sometimes it's deeper sometimes it's something no one even knows and all of us have demographics and psychographics that can be that can describe us and the better you describe the person in your mind this is for this is for combining this is for describing your ideal customer so when you go through these and think about this take your sentence that you wrote previously in the previous video so for example like making robots robot servants for people or whatever or creating puzzle games or photography for sports anything that you any of those examples or any that you you made really because that's the important thing and then for who is it is it for people who are engineers and when I say sexy. I don't mean sex I mean male/female you understand it that's just the way to denote that is it and then are you doing things for wealthy people are you doing for the underprivileged people and that of course will correlate with wealthy people can afford hi you know usually they can afford higher-end products and people who are underprivileged they your product quality can be smaller lesser but your cost and can be smaller as well you can do something for young people for all people people who like sports who don't like sports who like working out who hate working out you can do you see you can really this gives you a lot of directions to gone and then of course you got all these intangibles that psychographic so for example let's do a couple of examples I got four examples here I kind of put them on the next page of this document so that it's easy for us and what I'll do is let's combine your industry that you picked and the goal and the graphics and psychographics and it will sound like pretty cool and unique business ideas it will be random business ideas because I made them but if you've been really honest with your put your goals are what what your industry is then these business ideas for you should be really on point and really should tap into your goals tap into your passions and really be interesting and compelling and unique so for example here some of my examples so I have an industry artificial intelligence and I want to boost productivity for people and I want to do it for people who maybe they have a behavior certain behavior they procrastinate so people who procrastinate which is a lot of people I want to use artificial intelligence and I want to make a Productivity products for them ok and so that's a really cool approach right. It's a new approach it's an innovative approach and it's a gem that definitely a huge problem area so a lot of things are right about it of course no idea is perfect and there's something's wrong about it but like at least it's a fantastic start another one that's really different I travel photography that you're gonna do for supports ok we had that in the previous example but but you're gonna show specifically for how sports bring people together in different cultures okay so it's this this is something that's a little bit it has a little bit of activism for it and already has it pretty fine the audience and you've got the sport you've got the different cultures and then you got the idea of bringing people together now all these things will resonate with certain groups those are all big groups of people and then you have a niche audience right away right that idea of niche is getting solved now here's another thing exploring philosophy that's something I want to do I like philosophy in psychology huge passion of mine and I want to create a blog or a podcast or a YouTube channel maybe in your case for politics you want to maybe show how philosophers view certain political issues or psychology view certain political issues or it doesn't have to be political it can be in an environment it can be on ethics it can be on anything and you see those are all ethics values interests those are all behaviors those are all psychographics those are all that all of us sort of are on you know one side of the spectrum or the other of these but we all deal with these issues and or at least many of us do and you can also create something entertaining and humorous right for people who are bored but it's for high school students maybe you want to help young people and on the one hand they need a little break from what they're doing but on the other hand high school students are known for going through a lot of issues so this really a good idea for doing something for them that is while entertaining actually beneficial for them while making them feel like they're not alone and whatever experiences they're going through and to the gives it gives them a little bit of a sense of belonging give them a little bit of just the stability in in terms of like referencing the world almost right so those are just random ideas I came up with they all have again like I said some a lot of prose to them but some problems to them we're gonna talk about the problems and the the good parts about it in the next video.

Course content