Mon 1 Jan 2007
Marketing is one of my favorite subjects — mainly because you can't run your business without it! Through marketing you can deliver an output of products and services via profitable exchanges. Some changes that will probably take the marketing world by surprise in the new millennium are:
Boomers Retire: Approximately 80 million baby boomers are driving the current economy. However, 330 of them are turning 60, every hour. There is a significant change on the horizon, with the marketing strategies all around. The Bureau of Labor Statistics of the U.S. has projected a labor force of 162.3 million individuals in the year 2012, while there will be a requirement of 165.3 million job vacancies to be filled. The big question that arises is —who will fill this requirement?
Hispanic Revolution: According to a recent U.S. Census Bureau Report, Hispanics account for nearly half the growth in the US population, since 2000. The presence of the nation's largest minority group is overwhelming. If you are not marketing your services and products with this minority group in mind, you could be faced with huge potential losses!
Everything Online: You can look forward to buying absolutely everything online, ten years from now. Other traditional sales channels will either fade out or seriously shrink.
Everything Wireless: Five years from now, most common consumer products will become wireless. You can literally say adios to the cables, cords and wires. One negative aspect of this wireless trend is that it will obsolete virtually all the consumer products people own today.
Take these marketing trends and apply them to your business today, and get a jump on your competition!