4.3 Demographics
Completion requirements
Demographics is the study of populations. Groups within a population are defined by quantifiable characteristics such as age, education, and income.
The Canadian economy can be slow to predict the social and economic consequences of demographics.
It is important for businesses and governments be pro-active in preparing to respond to changes in demographics.
Demographic information helps businesses determine marketing trends - what people want to do, and what people want to buy! Demographic groups have different wants, resources, purchasing practices, and attitudes.
The Canadian economy can be slow to predict the social and economic consequences of demographics.
For example, an aging population will require more salt-free and fat-free food options.
A wealthy population with an increasing amount of disposable income will want more luxurious purchasing options
A population well-educated or experienced in entrepreneurship will require laws that allow the operation of businesses from home
Demographic information helps businesses determine marketing trends - what people want to do, and what people want to buy! Demographic groups have different wants, resources, purchasing practices, and attitudes.