Consumer behaviors vary between different countries and market structure. This report seeks to uncover the underlying factors behind some of the biggest consumer markets, Australia, Hong Kong and China.
Demographic characteristics largely affect by social and value trends such as consumption culture, gender roles and demand for certain goods and services. The existing relationship between these factors would be analyzed and discussed further.
From an analysis of the distinct differences, marketers can determine the underlying opportunities as well as potential niche markets for which they can tailor their marketing mix more efficiently and effectively (Blackwell, Miniard & Engel, 2006, Pg. 236).
Are there any differences between demographic, social and value trends in China, Hong Kong and Australia?
There are many differences between the demographic, social and value trends in the People’s Republic of China (hereafter China), Hong Kong Special Administered Region (hereafter Hong Kong) and Australia. This report attempts to outline the key differences, how it affects consumer behavior and the implications on global marketers. The basis of comparison is Australia as a developed nation (Pecotich et al 2006, p.1), where as China is still developing very rapidly with the transition from a planned to a socialist market economy (Blackwell, Miniard & Engel, 2006, Pg. 267). Unified to China under the symbolic motto ‘one country, two systems’, Hong Kong’s economy requires separate attention, as thoroughly capitalist, advanced, developed-country consumer market (Pecotich et al 2006, p. 151).
Defined as the size, structure and distribution of a population, in each economy forms a basis for marketers to analyze the current or projected social and value trends. These trends influence consumer behavior and the consumer decision buying process as a whole for instance need recognition, modes used in...