A common approach to identifying markets uses "demographic" characteristics of customers - such as age, sex, race, education, occupation, geographic location, income, marital status and family size. The popularity of demographics is due to the fact that such characteristics are easily measured, easily understood, and readily available in published form. Demographic characteristics are very useful for identifying market segments, planning appropriate marketing mixes and estimating market potential. This assignment will stress another major uses of demographic - to monitor changes and trends in the cultural and social environment to find new market opportunities. PART A Describe how the major industries of 1) Gym/fitness 2) Pay TV like Netflix, Presto, Foxtel and Stan e.t.c. and 3) eating out in restaurants are affected by the effects of the demographic trends listed below (positive and/or negative effects): A) Present longer life span of senior citizen. B) the Baby boomers generation who are approaching retirement but with money to spend. C) Generation X with a growing family household and a huge mortgage (need to be tight with money). D) Present smaller family unit and more "single adult" households (Generation Y and where spending money is part of every- day life) PART B Name some other important demographic trends. How might these trends affect the three industries in the report?