How does market research contribute to the successful targeting of a demographic?

Product features can significantly influence a company's targeting strategy. For instance, if a product has a feature that is particularly appealing to a certain demographic, the company can target its marketing efforts towards that demographic. This can help the company to reach a more specific audience, which can lead to increased sales and customer loyalty. Additionally, unique product features can help a company to differentiate itself from its competitors, which can also be a powerful marketing tool. For example, Apple's FDA-approved ECG scanner feature in its products led the company to target an older demographic, resulting in Apple becoming the third-most trusted brand among older Americans.

Companies can use several strategies to target demographics with high disposable income. Firstly, they can develop premium products or services that cater to the luxury or high-end market. Secondly, they can use targeted marketing and advertising campaigns that appeal to the lifestyle and interests of these demographics. Thirdly, they can partner with other luxury brands or influencers that this demographic respects or follows. Lastly, they can offer personalized services or experiences that make the demographic feel valued and exclusive.