As the United States continue to grow over the years, it is certain that we should also acknowledge that other countries will be expanding also. We tend to focus how each country is growing in technology but there are many other trends that we are forgetting. Youths in China and India tend to follow their own trends. We will discuss China and India by describing the products (goods and services) that interest their youth markets, comparing and contrasting the micro- and macro-environmental forces that can influence the marketing strategies for these products, and analyzing the marketing strategies of these two countries and compare them with Western-based consumption marketers. It has been projected that in the near future the youth in China is going to be the main part of consumer spending in that country alone. The current population of the People’s Republic of China is estimated to be about 1,390,510,630. China’s population makes up around 19.3% of the world’s population (World Population Statistics, 2014). According to The Hindu (2014), the population in the age-group of 15-34 increased from 353 million in 2001 to 430 million in 2011. Every third person in an Indian city today is a youth (Shivakumar, 2014). The most significant component to successful marketing is to gain the loyalty of the youth. Today’s consumers relate to brands that help define who they are and who they will like to be in the future. The youth in China are now deciding what they want for their own lives. In the past, their parents and elders were deciding and choosing what was best for them. The families did not have much money. Unlike the youths in the U.S., the youths in China are more focused on more of what they need. They want to figure themselves out and define who they are. They are finding more way to individualize themselves and be unique.
Most consumers under the age of 28 are not good at saving money. This is because they figure that they will not have to worry about anything in the future. People tend to worry about things when the problem arise, instead of preventing the problem ahead of time. In a recent survey, people said they know they will be getting between a 10 to 20 percent increase in their annual salaries. Therefore, their spending is based mostly on enjoyment. Each generation is different. The goods and services that the youth in China and India are interested in are definitely not the same as before. There are
so many new technological advances that have come about. Today’s generation is more about convenience, quality, and speed. Marketers these days have finally figured out that in order to have the continuous interest of the youth consumers, they have to provide the proper goods and services. These goods and services may include: music, technology, and fashion. The western-style basis of consumption is basically all about spending more money. For instance, most young people care more about having and upgraded popular phone, and a rather expensive car. To many of the youth, image is definitely everything. Since marketing strategies now are more in tuned with advertising in ways that the youths are accustomed to, it becomes easier to attract youth consumers. It is like this in both China and India. The U.S. is now doing the same things.
I see so many opportunities for the U.S. companies. These companies could do so much more, especially when it comes to the youth. The youth rules everything these days. They are into fashion, music, and especially technology. Companies can play into these interests. If these companies could learn how to advertise better; there business and profits would be booming.
In conclusion, the youth in China and India are dominating. Companies are seeing an increase in profit because the youths in today’s market are beginning to take over and the most significant component to successful marketing is to gain the loyalty of the youth. China and India are the top highly populated countries. And because of this, business and money is a little better for them. The most significant component to successful marketing is to gain the loyalty of the youth.
Shivakumar, G. (2014). India is set to become the youngest country by 2020. Retrieved April 21, 2014 from http://www.thehindu.com/news/national/india-is-set-to-become-the-youngest-country-by-2020/article4624347.ece World Population Statistics. (2014). Population of China 2014. Retrieved April 21, 2014 from