Final answer:
Psychographic studies enable marketers to focus on consumer mind-sets and lifestyles rather than just age groups, providing deeper insights for tailored marketing strategies.
Step-by-step explanation:
The question relates to how market researchers can concentrate on the psychological profile and lifestyle of consumers, rather than merely focusing on their age. In this context, psychographic studies are the key tool that helps marketers understand the mind-set, values, attitudes, interests, and lifestyles of consumers.
Demographic data like demographics, population growth trends, urban migration, and statistical analysis allow for understanding of population size, age distribution, movements, and overall structure, which are useful for logistical and resource allocation decisions. However, for marketing purposes, understanding the psychological and behavioral makeup of a customer group is crucial for tailoring products and messages to consumer needs and preferences, which is the essence of psychographics.