Demographic transition and ageing
Demographic information has traditionally and extensively been utilised by marketing researchers. Factors such as age, income, gender, and social class are regarded as reasonably good predictors of buyer behaviour and market-related activities in macro and micro contexts.
Practitioners use demographic information very extensively, and a large number of geodemographic databases are available. Marketers that understand the impact of demographic changes on their markets will have a sustainable competitive advantage.
Demography examination becomes more important as we progress in the 21st century as change is taking place as faster rate than is perceived by marketers. The primary reason is that there are four demographic shifts taking place at the same time, an occurrence that is unprecedented.
Foundations of Marketing: How to Build a Modern Marketing Plan
Foundations of Marketing: How to Build a Modern Marketing Plan
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