Effects of Demographic and Economic Environments in Marketing

In the forum last week, you identified a specific business. You will use that business to analyze demographic and economic environments that affect marketing, thus assessing the competitive environment you would be operating in.
Discuss some of the current demographic and economic trends, such as the changing age structure of the population, increased diversity, global economic patterns, and consumer spending patterns. Evaluate and critique the impact of changing and sustained trends and how they would impact your marketing plan for the business. As a part of your analysis, address the following:
Define your business: nature, clientele, location, purpose, etc.
How have these different trends affected the hospitality industry?
How has this affected marketing for the hospitality industry?
Concerning the industry of your business [foodservice or lodging for example], has the demographic characteristics of representative customers changed in commercials to reflect increased diversity or to reflect the shifting importance of value concerning price when the economy is in flux?
The writing should not be limited to the above elements, they are just elements to include.
Use outside research to provide validation, corroboration, or contrasting perspectives in order to support your perspective.
Writing Expectations
Written communication: Written communication is free of errors that detract from the overall message.
APA formatting: Resources and citations are formatted according to the current APA style and formatting handbook edition.
Length is less important than content. Each element should be sufficiently discussed without “fluff.”
3 Sources are required 1 will be peer-reviewed
The Hangar
This hypothetical business seats 60 people and has a menu consisting of pizzas and a light bar menu of sandwiches. We will also have a full-service bar with 12 large-screen TVs and video games. As for the employees, we plan to hire a mix of part-time and full-time staff, including 6 kitchen staff, 4 bartenders, 6 servers, and 2 managers. The venue will be located in the end cap of a local strip mall in Fort Walton Beach, Florida, between Eglin AFB and Hurlburt Field. The intended market for the business includes active-duty military, retired, and civilian support personnel and their families from the local area. There will be space on site for catered events.