Corporations are using "psychographics" to label neighborhoods everything from "Bohemian Mix" to"Gray Power" in an effort to maximize economic development profits.
"Corporations collect endless amounts of data to determine how to market products to different sectors of the population. They also use this data to decide whether or not a retail store would be successful in a specific area." This "lifestyle segmentation" use "psychographics" to collect data on "[a]ge, family structure, income level, education and profession...some of the commonalities that determine lifestyle similarities." Labels include "Bohemian Mix, Pools and Patios, Gray Power, Young Influentials and Middle America." How can neighborhoods use this information to improve their amenities and retain their core populations?
Thanks to David Gest
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