BUS 330 Principles of Marketing
BUS 330 Principles of Marketing
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Date Created: 11/05/15
DEMOGRAPHICS AND TRENDS Demographics and Trends Nirvani McKinney BUS 330 Principles of Marketing Instructor Suzanne Malek January 20 2014 DEMOGRAPHICS AND TRENDS 2 Youth and Trends in China and India From the Asian market there is a constant demand for a more westernize culture Goods and Services such as technology fashion and even motorbikes are taking India and china by storm What set China apart from other nations are the onechild policy and its effects on the Chinese youth market Since the implementation of the policy in the 1980s which has resulted in 90 million onlychildren the Chinese youth market is unique The result of the policy is that a single child is now the focus of two parents and four grandparents often leading to overindulgence and highpressure These onechild policy children are regularly referred to as little emperors and are very persuasive in how their parents spend their money In comparison youth in the US tend to have siblings whose parents balance the demands of each child With so much familial attention and pressure focused on cultivating these onlychildren the Chinese youth are interested in expressing their identity through personal choice This desire to separate and differentiate makes the youth market a broad and diverse demographic Brown E 2012 In our text White said China and India are the world39s fastestgrowing major emerging markets over the first decade of the 2000s China sustained an annual gross domestic product GDP growth rate of 9 percent while India achieved 7 percent growth Rand 2011 With US growth sluggish and Europe experiencing its own economic crisis it is no wonder the quotAsian giantsquot are attracting the interest of marketers DEMOGRAPHICS AND TRENDS 3 While fashion and technology are the going trend not only in China and Indian but around the entire world one product and server that caught my attention was Motorbikes I would like to think the youths of these countries are now starting to get their feet on the ground and while they are both busy countries they are also very populated That being said with our economy crisis it only seem like a logical reason to own a motorbike Asia is already the world39s biggest market for twowheelers but there is still room for growth said Roberto Fabbri managing director of the Bike Asia International Bicycle and Motorcycle Exhibition In cities plagued by daily traffic snarls bicycles and motorbikes have become a popular means of transportation Asians are also shifting to twowheelers because of rising awareness of the need to cut greenhouse gas emissions blamed for global warming said Fabbri quotToday39s rising oil prices and environmental concerns are leading to a general rediscovery of bicycling reminiscent of the early 1970s when the Arab oil embargo and high gas prices triggered three exceptionally strong years for bicycle salesquot he said Some 3291 million motorcycles were sold in Asia in 2006 compared with 275 million in Latin America 247 million in Europe and 185 million in North America Fabbri said Global production of bicycles is estimated at around 100 million a year with China accounting for 80 percent he added Martin A 2008 April 12 China is known as one of the countries with the highest usage of mobile technology China currently has the largest number of mobile phone users in the world By the end of 2010 mobile phone subscribers in China reached 850 million according to a report of the Chinese Ministry of Industry and Information Technology CMIIT 2011 DEMOGRAPHICS AND TRENDS 4 About 7 out of every 10 people in China own mobile phones As one of the most popular functions of the mobile phone mobile texting offers the potential for interpersonal interactions as well as business communications such as advertising and marketing Ling 2010 Mahatanankoon amp O Sullivan 2008 Yun X 2012 The reason youths are the target consumers of mobile device and fashion is because they take their time to select the product they are purchasing and isn t afraid to upgrade when there is something new Mobile devices are not only use for communication and entertainment but also as a fashion statement Youths of today are drawn to a community that gives them the ability to express themselves For instant we are the product of a social environment everything we do is through social media and by providing the youths with the platform to express them and create ground breaking ideas companies will be able to get the feedback they need and continue to provide for the demand of the youths Here is an example of just that Every summer the leading fast food brands in china make huge investments in communications cluttering the market with new products exotic avors and celebrities to attract their primary target audience youth This campaign changed the brief by shifting the objective from attracting the target audience to new products to instead making McDonald s a summer destination The brand decided to look at the lifestyle of its audience to understand how to make McDonald s relevant and engaging to youth The insight was that realness is missing in social networks and McDonald s encouraged people to discover the realness in a relationship through meeting up The campaign involved collaboration with social network Xiaoneicom The China Puzzle 2011 DEMOGRAPHICS AND TRENDS 5 I think the US companies can thrive from the fact that these two countries are on the verge of being complete westernize US companies can introduce new products and services to the people of these countries that appeals to their needs Such as technology fashion and better bicycles If they want to get on a more personal scale and build a relationship they can even go beyond and provide something that the surrounding community might need For example a park youth center etc To conclude China is an important context in which to examine the effects of largescale economic change on youth The nation encompasses about 20 percent of the world s youth and presents one of the most dramatic economic transitions of the past fifty years4 China s GDP is currently the fourth largest in the world and even in the midst of the current economic downturn is projected to grow at a rate of 8 percent in 2012 Over the past two decades China has moved from being a primarily agrarian society with a command economy dominated by stateowned enterprises to one that is increasingly urban market oriented and dominated by state private and foreign enterprises For this reason it is an ideal context within which to examine the effects of economic change on micro system DEMOGRAPHICS AND TRENDS DEMOGRAPHICS AND TRENDS References Brown E Caroline C Goodman J Post K and Wong A Read more 2011 The Race for China s Youth Market ONLINE Available at httpforbesindiacomarticlethunderbirdtheraceforchinasyouth Chen D Lin Z amp Lai F 2010 Crossing the chasm understanding China39s rural digital divide Journal of Global Information Technology Management 132 436 Retrieved from http searchproquestcomdocview 89 l 92282accountid325 21 The China Puzzle 2011 Journal of Advertising Research 514 634642 doi 102501J AR 514634642 Frothingham S 2012 India39s Hero looks to rescue youth market for IBDs Bicycle Retailer and Industry News 5 1 Martin A 2008 April 12 Oil environment lifestyle fuel Asia39s twoWheeler boom Agence F rancePresse White S 2012 Principles of marketing Retrieved from httDszlcontent ashfordedubooksAUB US330 l2 1 sections sec74 Yun X 2012 Chinese Use of Mobile Texting for Social Interactions Cultural Implications in the Use of Communication Technology Intercultural Communication Studies 212 131150
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