Youth Oriented Consumer Economies assignment 3
Youth-Oriented Consumer Economies
BUS330: Principles of Marketing (DCJ1517B)
Instructor: Dawn Nardini
Romonna Henderson
May 5, 2015
China and India’s population is growing as well as the economy which leads to higher consumption of products and goods. China has 1.3 billion people and in 2050 the population is estimated to be 1.4 billion. India’s population is 1 billion and is estimated to be 1.6 billion in 2050. (Hubacek, Guan, & Baura, 2007). Due to the population growing the economy is being stimulated and marketing strategies are being directed towards the youth-oriented consumers. This paper will analyze marketing tactics in China’s and India’s youth driven markets. “The American Marketing Association (AMA) defines marketing as “the activity, set of Institutions, and processes for creating, communicating, delivering, exchanging, offerings that have value for customers, clients, partners, and society at large” (White, 2012). China and Indiana has the highest annual gross domestic product (GDP) progression rates in the last decade and the market consists of the youth “China and India are the two most populous countries, accounting for 20.4% and 17.0% of the world’s population. (Dahlman, 2007) To keep up with the shifting youth driven consumers’ marketers must be inventive, creative. One would think that marketers play into Maslow Hierarchy of Needs. Their objective is to cater to the needs, wants and availability of product to the consumer “people are motivated to achieve certain needs. When one need is fulfilled a person seeks to fulfill the next one, and so on” (Mcleoud, 2011). In order for marketers to gain the attention of the youth the products and services distributed will have to peek their interest. For example; iPhones/iPads, extravagant cars and fashion are popular with youth. So the strategy marketers would implement would focus on technology, fashion, music and other persuasive factors that interest today’s youth driven market.
BUS330: Principles of Marketing (DCJ1517B)
Instructor: Dawn Nardini
Romonna Henderson
May 5, 2015
China and India’s population is growing as well as the economy which leads to higher consumption of products and goods. China has 1.3 billion people and in 2050 the population is estimated to be 1.4 billion. India’s population is 1 billion and is estimated to be 1.6 billion in 2050. (Hubacek, Guan, & Baura, 2007). Due to the population growing the economy is being stimulated and marketing strategies are being directed towards the youth-oriented consumers. This paper will analyze marketing tactics in China’s and India’s youth driven markets. “The American Marketing Association (AMA) defines marketing as “the activity, set of Institutions, and processes for creating, communicating, delivering, exchanging, offerings that have value for customers, clients, partners, and society at large” (White, 2012). China and Indiana has the highest annual gross domestic product (GDP) progression rates in the last decade and the market consists of the youth “China and India are the two most populous countries, accounting for 20.4% and 17.0% of the world’s population. (Dahlman, 2007) To keep up with the shifting youth driven consumers’ marketers must be inventive, creative. One would think that marketers play into Maslow Hierarchy of Needs. Their objective is to cater to the needs, wants and availability of product to the consumer “people are motivated to achieve certain needs. When one need is fulfilled a person seeks to fulfill the next one, and so on” (Mcleoud, 2011). In order for marketers to gain the attention of the youth the products and services distributed will have to peek their interest. For example; iPhones/iPads, extravagant cars and fashion are popular with youth. So the strategy marketers would implement would focus on technology, fashion, music and other persuasive factors that interest today’s youth driven market.
References: Dahlman, C. J. (2007). Issues in Science and Technology. China and India: Emerging Technolgical Powers. Economy, E. C. (2007, January 27). China 's Environnment Challenge: Polictical, Social and Economic Implications. Retrieved from www.cfr.org: http://www.cfr.org Hubacek, K., Guan, D., & Baura, A. (2007, N.A N.A). Changing Lifestyles and Consumption Patterns in Developing Countries. Retrieved from research gate: http://www.researchgate.net Mcleoud, S. (2011). Maslow 's Hirachy of Needs. Retrieved from www.simplypsychology.org: www.simplypsychology.org/mmaslow.html White, S. (2012). Principles of Marketing (1st ed.). San Diego, CA: Bridgepoint Education, Inc.