Generation Y, also known as Millennial Generation is the demographic cohort following Generation X. There is no precise date for when Generation Y starts and ends. Born between 1977and 2000, these children of the baby boomers number 83 million, dwarfing the Gen Xers and larger even than the baby boomer segment. This also gives opportunity to marketers to launch.
* A better-educated, more white-collar, more professional population Nowadays, the number of working women was increased and this has spawned the child day-care business and increased the consumption of career-oriented women’s clothing, financial services, and convenience foods and services. This also gives an opportunity to marketers.
* The changing Malaysian family
The increase number of educated people will increase the demand for education products such as books. Travel, computers and internet servicing are also related to education. So, this actually gives an opportunity to marketers.
b) Explain how companies can take a proactive stands toward the marketing environment Companies can be either proactive or reactive in responding to event that impacts them. Companies that take a proactive stance plan in advance and initiate action to deal with events, instead of merely responding to events. For example, Kingfisher, a British home improvement retailer, had taken a proactive stance on green issues in 2007. The company had goals for waste reduction and use of certified timber, sourcing the majority of its timber from sources that the Forest Stewardship Council has certified. Kingfisher's policies on chemicals in 2007 required its operating companies to have an action plan available by 2008 to identify products containing certain chemicals and to work with vendors on plans to...