Business Demography

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    BUSINESS DEMOGRAPHY

    UNIT 1

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    Demography

    Statistical study of human population.

    It is related to the study of size, structure, anddistribution of population and temporary and

    permanent changes in population due to

    birth, death, migration, aging etc.

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    Demography

    Study of both quantitative and qualitative aspects ofhuman population.

    Quantitative aspects

    include composition, density, distribution, growth,movement, size, and structure of the population.

    Qualitative aspects are thesociological factors such

    as educationquality, crime,development, diet andnutrition, race, social class, wealth, well being.

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    Demography is the study of the growth, change,and structure of the human population.

    Changes in a population's size and structure arecaused by changes in the birthrate, the death rate,

    and the net migration rates. Demographic research focuses on why people have

    the number of children they do; on factors thataffect death rates; and on the reasons for

    immigration, emigration, and geographic mobility.

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    Definition of Demography

    Dr. K. Park (1998)

    Demography is a scientific study of human population. Itfocuses on 3 readably observable human phenomena-

    change in population size (Growth and Decline),

    Composition of Population and distribution of Population.

    It deals with 5 demographic processes-Fertility, mortality,

    marriage, migration, social mobility which works

    continuously within the population determining its size,composition and distribution.

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    Houses an Duncan (1959)

    Demography is the study of the componentsof the population variation andchange

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    Importance of Demography

    Demography is useful to Government forallocating different resources or making plansfor the welfare of masses, balanced growth of

    the economy. Demographic information is useful for

    research purpose.

    Demography is useful for businessman foradvertising and launching of new products indifferent markets.

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    Cont..

    Demographers provide information to the

    government which is essential for it to take

    rational decisions.

    Demography is useful for understanding social

    and economic problems and finding their

    solutions.

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    BUSINESS DEMOGRAPHY

    When the demographic concepts, data and

    techniques are applied as an aid to business, it

    is called Business Demography.

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    Need of Demographic Studies for

    Business

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    MARKET AND RETAILING

    Consumer is the king of market.

    Businessman must have thorough knowledge

    about diversified consumer groups.

    Example: launching a series of hotels in

    different regions, the group must consider the

    standard of living of the society of various

    areas of the regions, lifestyles of the people,

    financial positions of the people etc.

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    HUMAN RESOURCE PLANNING

    Workforce required in business- Skilled, Semi -

    skilled, unskilled.

    Big and eminent companies spend billions of

    dollar on the health care of their present and

    former employees.

    Business Demography helps in furnishing

    useful information of the workforce.

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    BUSINESS SITE SELECTION AND

    EVALUATION

    Composition of Population

    Average Income Level of the People

    Likes and Dislike of the consumer

    Various habits of the consumer

    Cultural background of the consumers

    Literate and illiterate people

    Availability of skilled and unskilled workers Area or land on which business has to be

    constructed.

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    TRACKING EMERGING MARKETS

    Globalization has led to expansion of market

    boundaries to international level.

    Countries like China and India, are growing

    rapidly and there is a constant and continuous

    improvement in consumerism.

    Therefore, emerging markets can be identified

    only by proper demographic analysis.

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    INVESTMENT

    When any business is to be launched in any

    particular area, region or country, it is

    absolutely necessary for its management to

    think about investment in it.

    Return on Investment