Demographic Factors - Age

Population Age Mix: If the population gets older it will lead to a rising demand in products and services consumed by older people and a similar fall in demand for products consumed by younger people

Demographic factors - Age

Generation Y: Born to Shop
- Age 16 and under - Immense marketing impact - Affected by technology

- Capable of influencing family when it comes to buying

Demographic Factors - Age

Demographic Factors - Age

Generation X: Savvy and Cynical - Between age 17 29 - Materialistic, but critical - Marketing challenge - Seeks value regardless of brand affiliation - Want the best solution for their money

Demographic Factors - Literacy

Economic Factors
Key Economic Concerns for Marketers Inflation and Recession
Changing Consumer Spending Patterns

Changes in Income

Economic Environment
Income Distribution

Subsistence Economies Raw-material-exporting economies

Industrializing economies

Savings, Debt, & Credit Availability

Economic Factors - Inflation

Prices with no wage increase Purchasing power decreases Increase profit margins by increasing efficiency Consumers reaction: - Search for lowest prices - Rely on coupons and sales

Economic Factors - Recession

Income, production and employment fall Reduced demand for goods and services

Recession Marketing Strategies