Free Project: Target Market Research

In this post, I would like to do a target market research concerning my project, which is podcast audiences. I will be exploring these three main topics:

  • Demographics
  • Psychographics
  • Geographics
Let us begin with demographics, which "refers to segmenting an audience according to demographic factors like age, race, gender, family size, income, or education" (Chamberlain, 2019). Here, I would mainly research age, gender, income, and habits.

  • Age: As shown through a study by Improve Podcast (Land, 2022), people between 12 and 24 years of age constituted 40% of regular, monthly listeners. This means that Gen Z the largest age group and the fastest growing with Millennials and Gen X coming second.
  • Gender: Podcast listeners are both male and female and while still more men listen to podcasts than women. Growth of listenership in both groups is similarly very high (Land, 2022).
  • Income: Majority of podcast listeners are people with income of under 75k, next to 100-150k, 75-100k and 150k over.
  • Listening Habits: Podcast listeners are highly engaged and consume content regularly. According to a study by Podcast Insights, 54% of monthly podcast listeners listen to podcasts on a weekly basis, and 26% listen to podcasts multiple times per week (Winn, 2021).

Moving on is psychographics, which is "a method used to segment customers by their personality traits, attitudes, interests, values, and other lifestyle factors" (Chamberlain, 2019). I would like to explore the psychographics of podcast listeners through this graph (Marketing Charts, 2018):


Source: Marketing Charts

As seen in the image above, the most popular genres of podcast are related to music, TV & movies. These are genres with 61% avid fans amongst the total number of fans. These two genres are next to comedy, games & hobbies, and sports with over 40% avid fans. 


In terms of geographics, which relates to the region or location. I will take a look at this statistical infographic by Zandt (2021):

Source: statista

This graph shows how Brazil and Sweden has the most podcast listeners as of early 2021. This is followed by Australia, Indonesia, Spain, Norway, Chile, and countries in the North American continent.



Having done research on demographics, psychographics, and geographic; I have concluded some things about these topics that relates to my project
  • Demographics: My main target audience will be Gen Z (age 12-24), and Milennials (age 25-39), but universal to all age and gender demographics. 
  • Psychographics: Since my podcast will be talking about film, I believe that many podcast listeners would like it because films & TV is a genre that is immensely popular to podcast listeners.
  • Geographics: As I will be speaking English, and is currently located in the Britain, I believe that my podcast can appeal to most English speaking countries, especially in North America and Australia.
Although my topic, the Taiwanese New Wave, is one that is obscure and may only attract a niche audience, I believe that this research has made me certain that this topic could work very well as a podcast in terms of the audience demographics, psychographics, and location.


References:

  • Chamberlain, L. (2019) How demographic, psychographic, and Behavioral Marketing Inform Your Intent Marketing Strategy, Yext. Yext. Available at: https://www.yext.com/blog/2019/06/how-demographic-psychographic-and-behavioral-marketing-inform-your-intent-marketing-strategy (Accessed: February 28, 2023). 

  • Winn, R. (2021) 2021 podcast stats & facts (new research from Apr 2021), Podcast Insights. Available at: https://www.podcastinsights.com/podcast-statistics/ (Accessed: February 28, 2023).

  • Land, C. (2022) Podcasting demographics 2022 statistics - marketing audience guide, Improve Podcast. Available at: https://improvepodcast.com/podcasting-demographics-marketing-guide/ (Accessed: February 28, 2023).

  • Here Are the Most Popular Podcast Genres (2018) Marketing Charts. Available at: https://www.marketingcharts.com/industries/media-and-entertainment-105211 (Accessed: February 28, 2023).

  • Zandt, F. (2021) Infographic: Where podcasts are most popular, Statista Infographics. Available at: https://www.statista.com/chart/25847/percentage-of-podcast-listeners-around-the-world/ (Accessed: February 28, 2023).

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