DEMOGRAPHIC

Demographics or demographic data are the characteristics of a human population. These types of data are used widely in sociology, public policy, and marketing. Commonly used demographics include gender, race, age, income, disabilities, mobility (in terms of travel time to work or number of vehicles available), educational attainment, home ownership, employment status, and even location. Demographic trends describe the changes in demographics in a population over time (for example, the average age of a population may increase or decrease over time). Both distributions and trends of values within a demographic variable are of interest.

SOCIO ECONOMIC CLASSES (SEC CATEGORIES)

Almost every one associated with retailing, marketing, media and consumer economics is required to deal with SEC categories. These categories are important as they help in effectively segmenting markets and targeting communication to core consumers. Terms like, SEC A, SEC B, and the like are freely tossed around by all, however, only a few know their real meaning. Very few, for example, may be aware that many traders, who may be affluent with more spending power than most executives will fail to make the high grade, if they are not graduates. The socioeconomic classification (SEC) groups urban Indian households on the basis of education and occupation of the chief wage earner (CWE: the person who contributes the most to the household expenses) of the household into five segments (SEC A, SEC B, SEC C, SEC D and SEC E households in that order). This classification is more stable than one based on income alone and being reflective of lifestyle is more relevant to the examination of consumption behaviour. Here, high socioeconomic classes refers to SEC A&B, mid socioeconomic class refers to SEC C and low socioeconomic classes refers to SEC D&E. Data sourced from Indian Readership Survey (*IRS 1998-1999) gives the education and occupation profile of the chief wage earner of households. The mid socioeconomic class (SEC C) comprises households whose CWEs are employed at clerical or supervisory levels (37%), skilled workers (33%), petty traders (12%) or shop owners (18%). Three quarters of them are educated till the 10th or 12th grade while the rest have attended school till a maximum of the 9th grade. Less than half the CWEs of households belonging to the low socioeconomic classes (SEC D&E) are unskilled workers. About 28% are skilled workers while 18% are petty traders. 45% have attended school till a maximum of the 9th grade and 31% are illiterate.

PSYCHOGRAPHICS
In the field of marketing, demographics, opinion research, and social research in general, psychographic variables are any attributes relating to personality, values, attitudes, interests, or lifestyles. They are also called IAO variables (for Interests, Activities, and Opinions). They can be contrasted with demographic variables (such as age and gender), behavioral variables (such as usage rate or loyalty), and firmographic variables (such as industry, seniority and functional area). Psychographics should not be confused with demographics. For example, historical generations are defined by psychographic variables like attitudes, personality formation, and cultural touchstones. The traditional definition of the "Baby Boom Generation" has been the subject of much criticism because it is based on demographic variables where it should be based on psychographic variables[While all other generations are defined by psychographic variables, the Boomer definition is based on a demographic variable: the fertility rates of its members' parents. When a relatively complete profile of a person or group's psychographic make-up is constructed, this is called a "psychographic profile". Psychographic profiles are used in market segmentation as well as in advertising.

GENERATION Y
A label attributed to people born during the 1980s and early 1990s. Members of Generation Y are often referred to as echo boomers because they are the children of parents born during the baby boom (baby boomers). Because children born during this time period have had constant access to technology (computers, cell phones) in their youth, they have required many employers to update their hiring strategy in order to incorporate updated forms of technology. Also called millennias, echo boomers, internet generation, iGen, net generation.

GENERATION Z
Generation Z or "Net Generation" is a common name for the generation of people born between the early 1990s and the early 2000s. As the most recent generation, the earliest birth year commonly noted is 1991.[1][2][5][6][7] More generally, some of the oldest members of this generation were born at the end of the "Echo Boom" while the youngest of the generation were born during a baby boomlet around the time of the Global financial crisis of the late 2000s decade, ending around the year 2010, with the next unnamed generation succeeding. Members of Generation Z are typically the children of Generation X, their parents may also include the youngest Baby Boomers as well as older members of Generation Y.

BABY BOOMERS
A baby boomer is a person who was born during the demographic Post-World War II baby boom. The term "baby boomer" is sometimes used in a cultural context. Therefore, it is impossible to achieve broad consensus of a precise definition, even within a given territory. Different groups, organizations, individuals, and scholars may have widely varying opinions on what constitutes a baby boomer, both technically and culturally. Ascribing universal attributes to a broad generation is difficult, and some observers believe that it is inherently impossible. Nonetheless, many people have attempted to determine the broad cultural similarities and historical impact of the generation, and thus the term has gained widespread popular usage.