2.113 Demographics and new products
Companies planning to introduce a new product to the market must define the “target” for the product. Who do we hope to attract with our new product? Age and gender are two of the most important demographic variables. The following two-way table describes the age and marital status of American women.23 The table entries are in thousands of women.
Marital status | ||||
---|---|---|---|---|
Age (years) | Never married |
Married | Widowed | Divorced |
18 to 24 | 12,112 | 2,171 | 23 | 164 |
25 to 39 | 9,472 | 18,219 | 177 | 2,499 |
40 to 64 | 5,224 | 35,021 | 2,463 | 8,674 |
≥ 65 | 984 | 9,688 | 8,699 | 2,412 |