POPULATION DEMOGRAPHICS 4
Householdpatterns in the United States are predicted to change in differentways. One of the anticipations is that household numbers are expectedto increase. The trend, where family units would comprise of one ortwo individuals is also predicted to occur in the United States(Hannum et al., 2010). Such households will have a continuous sourceof income, but no family responsibilities. Hence, these individualswill possess significant potential for expending on discretionaryitems. Another expectation is that families are likely to be diversein styles. This emanates from the interaction of individualsethnically, religiously, and racially (Hannum et al., 2010). Also,families are likely to be more exposed to the social media platforms,where almost every family member will have a connection with at leastone media. Furthermore, households are more likely to be attracted tonew fashion in the market (Hannum et al., 2010).
Theexpected changes in the American households will have an impact onthe demand for various goods. The increase in the number of familyunits will imply that the demand for basic products will increase.This is because the rising number of family circles will create a newdemand for goods such as food and clothing since the population willnot be in a position to live without these products. Alternatively,due to the increase in the number of households having one or twomembers and no family responsibilities, family units will have a lotof resources at their exposure. This implies that the demand forluxury goods will be on the rise. Conversely, there will be adecrease in demand for inferior products (Hannum et al., 2010).Furthermore, because of the expected change in the use of the socialmedia platforms, there will be an augment in the demand for devicesthat can support the utilization of social media platform. Inaddition, an attraction to new fashions implies that the demand forfashionable items will be on the rise.
Theorganization that I will consider is the Apple Company. These changesin demographics will impact the organization in different ways. Theincrease in the number of people using social media tools will affectthe company positively since it will need to focus on producing andmarketing devices that support group networking. The organization islikely to maximize its revenues in the area. The business willbenefit from reduced cost of advertising since it will be feasible toreach a lot of targeted customers using the social networks. Thecompany is also likely to be affected by fashion emanating frompeople’s attraction to new styles.
Insuccessfully managing the changes, the organization will need tofocus on the emerging fashion of mobile phones, computers, as well asother accessories. This will imply that the company will need tocarry out market research to produce the devices that attractattention to the population. Also, in order to maximize its revenues,the organization will be required to produce a variety of items thatfit the emerging styles. Furthermore, to mitigate the cost ofadvertising, the entity will need to focus on the use of the socialmedia platforms in promoting and marketing its products. In addition,the company will need to allocate more resources to research anddevelopment to know the demand in the market for optimum production.
Hannum,E., Park, H., & Butler, Y. G. (2010). Globalization,changing demographics, and educational challenges in East Asia.Bingley, UK: Emerald.