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Size and composition of present both opportunities and problems for business. Opportunities arise because there are more consumers. However, more people do not necessarily mean greater demand unless population growth is accompanied by growth in per capita income. This is why poor countries are generally not attractive for big firms.
Population growth also meanS availability of more workers to produce and sell goods. But labor supply will really increase in such situation, besides work attitudes of people.
In highly populated advanced countries market prospects are very attractive but competition is also intense. When the population is very heterogeneous in respect of language, religion, caste and preferences, different demand patterns emerge calling for varying marketing strategies.
Decline in birth rate means fall in the size of infant population with consequent decrease in market for baby products. Increasing life expectancy increases the percentage of aged in the total population. Therefore, demand for health care facilities of aged increases.
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12 Comments. Leave new
Very well are population and business related. In economics, we have complicated theories and models to show the relation. How the population affects the economy is well explained by growth models. Nevertheless, good efforts !
Good explanation..!
Good one
Good effort
wonderful post!!!
Good work!
Good effort!
Nice effort!!
Very well explained the link bettween Population and busniess as there are many pros and cons in this 😀 it ot alwasys true that 🙂 max population have good busniess
Take the example of India 😀 it is the 2nd most populated nation but still it just developing in the side of business and the umempoyment rate is increasing alarmly in India 😀
Good work 😀
Great job. You have defined today’s practical scenario. 🙂
great work..keep it up!
nice article