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Compare and contrast how does the age subculture in Malaysia differs from that in Australia. Show how this may provide a marketing opportunity for an Australia exporter Essay Example

  • Category:
    Marketing
  • Document type:
    Assignment
  • Level:
    Undergraduate
  • Page:
    2
  • Words:
    907

Age Subculture

Affiliation

Age Subculture

In any market, there are always different consumers with different beliefs, feeling and behaviors to products. All these forces will determine the consumers’ reactions to a product. All these forces are dependent to the consumers’ ages. At different ages, consumes tend to demand for different products. Members of the older generation have different lifestyles as compared to members of a younger generation. This is because members of the younger generation mainly focus on expensive products for their lifestyle and appearance. They are more concerned with their grooming as compared to those in the older generations.

There are different marketing strategies which are employed in different markets depending on different of factors. The age subculture is one of them and it may provide different marketing opportunities for Australian exporters like JB HIFI Ltd willing to join the Malaysian market. In the age subculture, consumers are divided into three, the generation x consumers, the generation y consumers and the baby boomers which also applies in the Malaysian market. Ellie Williams, (2012, p.13) says that generations x consumers are the consumers who are born between the early 1960s and the late 1970s. Vistage Malaysia, (2011) claims that in the Malaysian market, the generation x consumers consist of 22 percent of the overall population as compared to the 21.5% of Australia, from The Australian, (2011). This makes Malaysia a better market for producers targeting the generation x consumers as compared to Australia.Sally Kane, (2010, p25) pointed out that the generation y consumers were born between the mid-1980s and 1990s. They are perceived to be the fastest growing age group in Malaysia. Joe Pulizzi, (2012, p17) detailed that the members of this generation have grown with the feeling of entitlement and tend to possess the ‘I can do anything attitude’. The generation y members in Malaysia are believed to be high spenders and high maintenance as compared to those in the Australian market. Sally Kane, (2010, p25) said that baby boomers are mostly independent and do not rely on other people’s opinions. They were born between the 1940s and the late 1960s. They consist of a lower population in the market but are more in the Malaysian market as compared to the Australian market.

In the market, some of the opportunities brought about by the age substructure include increased sales.These consumers in the generation x witnessed the introduction of the internet and the invention of computers. Due to this, they tend to make informed decisions from their purchases from the internet to look for the best offers. If JB HIFI Ltd is willing to join the Malaysian market, they will have an advantage when it comes to advertising. This is because most of them tend to read a lot of newspapers and watch television. Advertising goods through these channels will be fruitful as they will be able to view the advertisements. The generation x consumers in Malaysia have the tendency to be royal to brands and products they know. If JB HIFI Ltd is willing to introduce a new product in the Malaysian market, they will acquire brand loyalty from the consumers in generation x hence increasing sales.

For the consumers in generation y, the internet and social media has become a big part in their lives. In Malaysia, 80 percent of the members in this generation are active users of Facebook and others social networks. The members of this generation tend to make purchases depending on the advice given by either friends or strangers and due to the existence of the social media; it makes it easier for them to be convinced to make purchases for goods from marketers. JB HIFI Ltd can easily profit from this opportunity by using the social media and the internet as a marketing tool for their products in Malaysia to capture customers. The fact that the consumers in Malaysia at this generation have high expenditures makes it easier for JB HIFI Ltd to make sales. For baby boomers, they make their own decisions concerning their purchases. Ruth Klein, (2011, p19) says that they make the most expensive purchases. Targeting the baby boomers in the Malaysian market would provide a marketing strategy and increase sales for JB HIFI Ltd. Mary Brown, (2012 p.36) elaborated in her book that most of the baby boomers dictate the purchases made in households and gaining them as clients would easily boost demand and sales.

Due to the difference in demand and behaviors in the customers at different ages, it provides the marketers and a marketing opportunity to capture the market and increase their exports in Malaysia. The difference in ages enables JB HIFI Ltd to be able to employ different marketing strategies to capture the required consumers for their product.

References

Ellie, Williams 2012, Business & Entrepreneurship: Generation X Consumer Behavior, viewed 22 July 2012

http://yourbusiness.azcentral.com/generation-x-consumer-behaviour-9585.html

Joe, Pulizzi 2012, Content Marketing: Content Marketing Tips When Targeting Generation Y, viewed 30 November 2012

http://contentmarketinginstitute.com/2012/09/5-content-marketing-tips-for-targeting-generation-y/

Mary, Brown 2012, Boom: Marketing to The Ultimate Power Consumer, the Baby Boomer Woman, viewed 17 March 2012

http://www.web-design-for-women.com/marketing-to-women-books-.html|boom

Ruth, Klein 2011, Senior Strategies: Marketing to Gen X, Y, Boomers and Seniors, viewed 5 December 2011

http://www.themarturemarket.com/SeniorStrategic/-9409-5.html

Sally, Kane 2010, Legal Careers: Generation Y, viewed on 27 January 2010

http://legalcareers.about.com/od/practicetips/a/GenerationY.htm

Vistage Malaysia, 2011, Understanding Generation X and Y: Generation X vs. Y, viewed 28 May 2011

http://www.vistage.com.my/experience/tools-and-resources/content-library/understanding-generation-x-and-y-employees/

The Australian, 2011, Governance and Management: Generation X and Y, viewed 15 August 2011

http://www.governance.com.au/board-matters/fx-view-article-.cfm/loadref=2&article_id=EB2FC508-8C97-4666-861D7880EEF306AF