Question

What are demographics? Why are they important to international marketers?

Please answer in 150 words or more.

Answer 1

Demographics:

Demographic refers to the segmenting or segregating population based on structure, size and distribution. Following are key components of demographics:

• Size: measuring densities of population.
• Structure: segmentation based on age and gender.
• Distribution: spatial distribution across the regions and countries.

Importance to international marketers:

Marketing of goods and services is key to the success of any business house. Firm may not survive cut throat competition if it does not understand the true needs and aspiration of prospective customers. Hence, study of demographics help to position the offering of firm effectively. Following are benefits:

• It will help in customizing goods and services according to the needs and demand of people.
• It assists in spreading business internationally and push through the agenda of glocalisation.