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Demographics and technology are essential factors to be considered when aligning business strategies. Demographics define a given population’s socio-economic characteristics to determine product preferences and buyers’ purchasing behaviors. The demographic analysis helps a company build a sustainable relationship with its customers. They can assist in deciding targeted markets and products needed by customers. Factors such as pricing, packaging, and service deliveries are affected by demographics. Sales are likely to increase when customers are aligned with the company dynamics (Koehler, 2017). Demographics analyze age differences, gender variables, ethnicity, and geographical location of a business.
The company of focus in this category is Abercrombie & Fitch, an American lifestyle business that sells casual wear. The companies headquarter located in New Albany, Ohio, and operates a total of one thousand and forty-nine stores. Abercrombie & Fitch Company is made of people who come from different and diverse demographic origins. The company forms a total of 50.6 % of members who are female and the rest male. Ethnic minorities add up to 42.1% from top staff members’ analysis (Koehler, 2017). Many changes have occurred in the company, from top leadership positions to interact with the customers. Abercrombie & Fitch Company has introduced a new communication department to be in-charge of receiving urgent information.
The communication department is entrusted with the duty to ensure customers get current and valid information on products’ changes. The company has experienced external demographic changes such as customers’ preferences and tastes for the goods. Meeting the demands of the customers in the market remains Abercrombie & Fitch Company’s primary goal. Making products available for customers and offering effective services has increased sales (Koehler, 2017). To ensure consistency in interacting with potential customers, the sales and marketing department of Abercrombie & Fitch Company has stayed flexible in the market. Commitment, communication, respect, and integrity are the key pillars that keep the company at hand with current market changes.
Technological factors affect how the company interacts with customers. Technology enables the smooth running of activities and boosts connections among the staff members. Adopting an effective information technology enables Abercrombie and Fitch Company to monitor sales of goods, changes in customers’ data. The use of information technology helps the company predicts current trends in doing business (Koehler, 2017). Changing dynamics at the organizational levels are thoroughly analyzed by the use of information technology.
Right technology boosts sales in the market as customers interact freely and readily with the company. More interaction with customers maintains the general company’s competitive advantage in the market. Changes in technology affect the sales of products from the company. More people are reached as a result of adopting effective information technology. The business can address customers’ needs using effective information technology (Koehler, 2017). More engagement with buyers prevents stiff competition from neighboring companies selling the same products.
In conclusion, demographic and technological factors are vital for any company in the market. Demographic variables must be analyzed keenly by the company’s head and make critical decisions. The same scenario applies to technological factors of doing business. Customers are the final determinants of a company’s survival in the market. They must be treated with respect and love.
Reference
Koehler, I. (2017). Reputation management: A case study of Abercrombie & Fitch. Journal of Undergraduate Research in Communications, 8(1), 66-74.
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