Describe the effects of demographic, geographic, cultural, and psychographic issues on business.

Description should include considerations such as

• demographic (i.e., size, distribution, and other distinguishing statistics relative to a specific population)
• geographic (e.g., location of production facilities or salespeople, and goods and services offered in a location)
• cultural (e.g., arts, entertainment, customs)
• psychographic (e.g., values, attitudes, interests, lifestyles, beliefs of different generations [e.g., traditionalists, baby boomers, generation X, millennials, generation Z]).

Emphasis should be placed on businesses’ concerns with

• return of residents to revitalized urban areas
• education/skill level of the workforce
• demands of a population by age group.