9609 · 6.1.3
Social and demographic flashcards
Revision flashcards for Cambridge 9609 Social and demographic (syllabus 6.1.3). Flip, recall, then mark a real past-paper question.
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Ageing population opportunity?
Healthcare, pharmaceuticals, retirement housing, financial planning.
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Urbanisation effect?
Higher density → delivery services, compact products, public transport markets.
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Ethical consumerism?
Buyers prefer fair trade, sustainable sourcing — affects product and promotion.
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Demographics + marketing?
Links to segmentation — age, income, family structure (3.1.6).
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Social trend risk?
Changing attitudes can obsolete products (e.g. smoking decline).
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CSR pressure?
Stakeholders expect responsible behaviour — reputational risk if ignored.
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What is demography?
The statistical study of human populations, especially with reference to size and density, distribution, and vital statistics such as age, gender, income, and ethnicity.
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Define the 'grey market'.
A term for the market segment consisting of older consumers (typically aged 55+), who often possess significant disposable income and have specific needs for products and services like healthcare, leisure, and financial planning.
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What is meant by Corporate Social Responsibility (CSR)?
A business's commitment to operate in an ethical and sustainable manner by managing its social, environmental, and economic impacts in line with public and stakeholder expectations.
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Give an example of a social lifestyle trend affecting business.
The growing trend of health consciousness has increased demand for organic food, fitness products, and gym memberships, while reducing demand for tobacco and high-sugar products.
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What is urbanisation and how does it affect businesses?
Urbanisation is the population shift from rural to urban areas. It affects businesses by creating densely populated markets that are easier to serve, but also increases competition and operational costs like rent and wages.