Demographic change and consumer behaviour
Most demographic shifts do not occur rapidly, so marketers will not see a dramatic change in short periods of time and the manner that other external forces can impact an organisation, for example, impact of a new law.
However, over the long term, demographics can reshape a target market, requiring marketing organisations to rework their marketing strategy in an effort to appeal to a changing market. While demographic change occurs slowly, marketers can begin to see indicators of potential change by identifying small trends that may suggest the largest shift over time. By paying close attention to these trends, organisations can prepare their long-term marketing strategy to be ready when the shift becomes more apparent.
Foundations of Marketing: How to Build a Modern Marketing Plan
Foundations of Marketing: How to Build a Modern Marketing Plan
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