Demographic and social influences affect business and brands in various ways as each demographic or social factors need to be addressed for growing the business or might fail to grow.
Demographic influences or social influences are the characteristics of the population that helps business to understand and identify the product preferences and purchasing behaviors.
There are many different types of demographic or social factors that might influence the business:
- income
- age
- geographic region
- education
- gender
- ethnicity
- religious affiliation
- marital status
- employment
All these factors affect businesses and allow them to adapt according to demographic or social changes.
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