Demography is very important in business and marketing because in order to be successful, a business must know its customers. Businesses can use demography to research new market opportunities, both in already targeted areas and in new areas. The data obtained allows them to create a strategy specific to the areas being targeted. From this, the business can make a large profit by making small changes to reflect the attitudes of the changing populations.
The majority of demography work in business and marketing is done by market research analysts, who use data from surveys, polls, and questionnaires to see how a changing population and changing trends will impact a business. This data is very important as it allows for businesses to remain competitive in a changing landscape. For example, after the data from a survey is analyzed, an analyst sees which product are becoming more popular and which products are becoming less popular. Then they communicate the results to the business, who can change their advertising scheme to reflect changing attitudes and preferences. Data can also be used to determine the effectiveness of the new marketing schemes. This helps the business be as profitable as possible, simply by knowing what its customers want.
Consulting firms often use social scientists and demographers to help their clients make informed decisions and are another great place to look for career opportunities.
