Marketing by the Numbers Demographic Trends
Do you know of Danica from the Philippines, Peter from London, Nargis from India, Marina from Russia, Chieko from Japan, or Miran from the United States? These are some of the babies whose parents claimed they were the 7th billion human born into the world. The world population continues to grow, even though women are having fewer children than ever before.
Markets are made up of people, and to stay competitive, marketers must know where populations are located and where they are going. The fertility rate in the United States is declining and the population is aging, creating opportunities as well as threats for marketers. That is why tracking and predicting demographic trends are so important in marketing. Marketers must plan to capitalize on opportunities and deal with the threats before it is too late.