What demographic change has implications for marketers dealing with income?

The correct answer highlights the significant implications of greater wealth concentration for marketers. As wealth becomes concentrated in the hands of fewer individuals, marketers must shift their strategies to cater to a smaller, affluent market segment. This demographic change affects consumer buying behavior, preferences, and the types of products and services offered.

Marketers may find that understanding the needs and desires of high-income consumers becomes crucial, as these consumers often seek luxury goods, premium services, and exclusive experiences. Furthermore, wealth concentration can lead to changes in market dynamics, such as increased competition for high-end products and the necessity to tailor marketing messages to resonate with affluent lifestyles.

Conversely, while increased savings rates and rising minimum wage are important economic factors, they do not directly illustrate demographic shifts impacting income distribution as clearly as greater wealth concentration does. The expansion of the middle class typically signals a more balanced income distribution, which may affect marketing strategies but not in the same profound way that concentrated wealth does. Hence, the focus on wealth concentration provides insights that shape marketing tactics and consumer engagement strategies.