External forces facing marketing

Demography involves the study of characteristics of a population and how these change over time. The characteristics that are of most interest to marketers fall into two categories. Total population.

These characteristics take a very broad view of the population as a whole in terms of size, for example, number of people, number of businesses, and location, for example, geographic region. Personal variables. These characteristics look at how the population is changing based on individual factors, such as gender, age, income, level of education, family situation, for example, single, married, cohabitation, sexual identity, ethnicity, occupation, and social class. Targeting markets’ demographics is a key variable used to segment both consumer and business markets. In particular, demographic variables are an important component in creating customer profiles.