Business Management
 Describe
Previously…
the
impact of
demographic
issues on
business.
 Describe
current and

Explain the risks and
rewards of
entrepreneurship
through a SWOT
analysis.

Compare the
characteristics of
different types of
businesses.
A
statistical
view of
population,
generally
including age,
gender,
income,
schooling,

Understanding the demographic
characteristics of your target customers is
critical for the success of your business.
◦ Helps determine the features of your product
or service
◦ Affects pricing, packaging, promotion, and
placement

Companies cannot meet ALL needs with
any one product/service.
◦ Focusing on a target market makes it easier to

Purchasing Power How much disposable
income is available?

Residences Are homes rented or owned?

Means of Transportation Do most people in
the area have their own vehicles or use public
transportation?

Age Range Is the community primarily young
people just starting in their careers, young
professionals, empty nesters or retirees?

Family Status Are there a lot of families in the
area or mostly singles?
Do you know the demographics
of your own community? Click
here.
 Demographic
issues influence
businesses…
◦ Advertising – medium, frequency
◦ Geographic Considerations – location of
factories, sales people
◦ Products or Services offered
 Businesses
NEED to concern
themselves with shifts in
demographic statistics in order to
survive!
 Current
and emerging trends in
business refer to new practices,
behaviors, or styles accepted as
desirable by consumers.
◦ Evolve and change frequently.
◦ Often determined by demographic
research
◦ Can be completely subjective
 Trends
are perpetuated when
What are some TRENDS in
America today?
 What
are
demographics?
 How can
demographic
issues impact
business?
 What are some
current and
You will be divided into six groups
of four.