Define the Term "Demographics," Explain Why It Is Important to Understand

question 31

Essay

Define the term "demographics," explain why it is important to understand demographics in marketing, and discuss the major demographic variables of interest to marketers.

---

Definitions:

Contemporary Organizations

Modern entities or groups that are structured and managed to meet a need or to pursue collective goals in the current era.

Operating Efficiency

A measure of how effectively a company uses its assets to generate revenue, often reflected in the ratio of operating income to total assets.

Full-Employment Economy

An economic condition in which virtually all who are able and willing to work are employed.

Network Structures

refer to the arrangement of connections and relationships between individuals, groups, or institutions, often used to describe organizational or social networks.