Last Updated 27 Jan 2021
Demographic Structure
Age ranges - the larger the age bracket an environment has, the stronger the business could survive because of market variety. Working population - great number of people who have a Job and able to work could have the ability to purchase. Leisure activities - since people are reducing their working hours for leisure activities, these reductions could mean more time for most consumers to buy goods and services without time pressures.
Means of transportation - the most monumental impact of this relates to the physical capacity to convey passengers and goods and the associated costs to support this mobility.
Population structure- different age group buys different products so changes in the population affect the demand of the product.
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Population diversity - customers in different cultures have different values, experiences, expectations, and ways of interacting thus giving it a hard time for marketers in focusing on a specific field.
Family status - analyzing a family's status must be done thoroughly due to family's overall income and other related expenses.
Large population- as the population grows; the growth for human needs also arises. Thus, market opportunities occur.
Aging population - people matures and changes, and so as their necessities. These could give a huge opportunity because there are things that should be given to satisfy their requirements.
Geographic population shift migratory movements could also be a good opportunity because location makes a good difference in goods and service preferences.
Purchasing power - because of inflation, people may no longer afford to purchase products that aren't relevant to their everyday needs unless the goods to be purchased are consumer products.
Depopulation - the sharply reduction of population can also threaten a business because potential buyers will be lessen.
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Demographic Structure. (2018, Jul 17). Retrieved from https://phdessay.com/demographic/