Demographic

Demography is study of human populations in terms of, density, size, age, location, sex, occupation, race and other statistics. It is major interest to marketers because it involves people and people make markets. Demographic trends are continuously changing.  Some more interesting ones are following.

1). the world's population (though not all of the countries) rate is growing at an explosive rate that will shortly exceed food supply and ability to sufficiently service population.  The greatest danger is in poorest countries where poverty contributes to the problems.  Emerging markets like China are retaining increased consideration from global marketers.

2). The  most  vital  trend  is  the  changing  age  structure  of  population. Population is aging because of a slowdown in birth rate (in this country) and life anticipation is increasing. The baby boomers following World War II have generated a huge "bulge" in our population's age distribution.  The new prime market is middle age group (in future it turn in the senior citizen group).  There are various subdivisions of this group.

a). Generation X:-this particular group lies in shadow of the boomers and lack clear distinguishing characteristics. They are a very cynical group because all of the complications that have surrounded and impacted their group.

b). Echo boomers (baby boomlets) are the huge growing kid and teen market. This group is used to affluence on part of their  parents  (as  different  from  Gen  Xers). One distinguishing characteristic is their total fluency and relieve with digital, computer and Internet technology (sometimes called Net-Gens).

c). Generational  marketing  is  possible,  although,  caution  have to  be  used  to  avoid generational alienation.

Many in modern family now "telecommute" :-work at home or in office and conduct their  business  by using  cell  phones, fax, modem,  or  the  Internet  generally,  the  population  is becoming better educated. The work force is becoming more white-collar. The products like books and education services appeal to the groups following this trend.  Technical skills (like in computers) will be a necessity in future. Final demographic trend is increasing cultural and racial diversity of the population. Diversity is a force that ought to be recognized in the next decade. However, companies have to recognize that diversity goes beyond racial heritage. One important markets of the future are which disabled people (a market larger any of our racial minority groups).