The Daily Stat: 7 billion

The (estimated) world population
Source: United Nations, Department of Economic and Social Affairs, Population Division

According to the UN, the world population reached the 7 billion mark on October 31, 2011.

For all the hype surrounding it, the reality is that the number is only an estimate (nobody can know the exact number for sure due to the practical challenges in gathering data). And yet it certainly is a compelling one. Our population is growing at such unprecedented rates, considering we've only just passed the 6 billion mark in 1998. In 13 short years, we now have 1 billion more mouths to feed on this planet. The next billion isn't that far off either - we're expected to reach the 8 billion mark by 2025.

So What?
This demographic phenomenon obviously has far-reaching social, political and economic implications that would make for great debates but what does this mean specifically for marketers?

Here are two of the biggest challenges that international marketers face as the population grows:

1. Product Development: World resources aren't growing as fast as the population is. Marketers, in partnership with R&D, will need to figure out ways to make the most out of what's available in developing products to meet the increasing needs of a growing population. Think Unilever's fabric conditioner that uses a third of the amount of water typically needed for every wash.
2. Distribution: With more people competing for scarce resources, marketers will need to find new ways to provide greater access to their products. Think Danone's unique approach to selling yogurt in Bangladesh.

7 billion can be an intimidating number. But with the right mindset, the challenges of a growing population also come with opportunities.