U.S. consumers will graduate into higher-income groups desiring more luxury goods, leisure activities, travel and entertainment. U.S. children already spend over 300 billion and the disposable income of Latino’s is growing by 9% annually, expected to reach $900 billion by 2007. Ignore these and other demographic shifts at your own peril.

The needs, attitudes, and values of different age brackets, income
levels, and ethnic groups are changing. A South Korea manufacturer sells a cellular phone in Muslim countries containing a GPS system that automatically points to Mecca enabling its owner to face the right direction while praying.

More than ever, people are spending money in ways that reflect their individual values. To capture a specific market, one has to understand it’s cultural. While Americans tend to view food as fuel for the body, French Canadians see it as a source of pleasure. Americans are responsive to advertising promoting value and quantity, French Canadians respond to quality-of-life ads.

People are much healthier and wealthier than their grandparents and new opportunities for adventure, education and travel have opened because of it. Seniors are the Internets fastest growing age group and banks are courting them on-line.

Companies must respond to changing demographics by finding out who these new consumers are and giving them exactly what they want. Coca-Cola has more than 230 brands internationally and General Motors introduced the Buick “Sail” in China with cup holders big enough to accommodate the thick jars used to hold their tea.

Product demand is growing among the poor as well. In Rio de Janeiro the collective purchasing power of the poor is $1.2 billion. Innovative companies are selling them everything from motor scooters to iPods to laundry detergent in small affordable packages.

Brands that are closely aligned with an archetype behavior are popular around the world. Consider the universal appeal of Harley-Davidson’s bad-boy or Nike’s hero images.

Who is your market now? Who will it be in the future? Whatever your answers to these questions are, to be successful you will have to change. It doesn’t matter whether you’re targeting international or domestic markets, senior citizens, emerging ethnic groups, children or the poor.

Paul A. Laudicina author of World Out of Balance say’s: “Big brands are taking a beating around the world. Corporations are turning to viral marketing, in which early users spread the word about a new product.” Consider the success of Hot Mail and Amazon’s affiliate program as a few examples of successful viral marketing.

The Internet and “word of mouse” will be important, but word of mouth will be more important than ever, especially in those areas of the world without infrastructure.

Carefully study the details of how the demographics of your market are changing. Learn the culture; know the popular archetypes and the products and services desired. Then modify your marketing, products or services and present them in a way that is appealing to the new world.

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