Essay Wk 3 Assignment

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RUNNING HEAD: Marketing: China and India

Marketing: China and India
Brigette A. Oman (Jones)
BUS 330 Principles of Marketing
Instructor: Benjamin Pitts
10 November 2014

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Marketing: China and India

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Marketing: China and India
The nations of China and India are seeing a very interesting expansion of population which is similar in nature to what happened in United States of America during the
“baby boomer” era. Considering the U.S. has already had some experience with this type of rapid expansion it is wise for marketers to examine that history to help decide how the face of marketing should best adapt in the coming years in the nations of China and India. The following will cover what products and services this younger generations of consumers may be interested in. It will cover the different forces which can influence marketing strategies for those products and services. It will compare the possible market strategies against similar Western strategies.
Finally it will discuss what if any opportunities U.S. companies may have in these markets and why. In 2007 I traveled to the nation of China and had an interesting chance to see a version of marketing which I had never encountered outside a yard sale in the U.S. It was intimate and deeply personal, haggling was the name of the game at nearly every road side store you stopped in you were engaged at once in a one on one battle of wills with the proprietor of that shop and if you wanted something you had to do a form of work for it. This method, however, can be very slow and with the exponentially increasing population of this nation methods like this are inefficient for both the consumer and the business. If we compare modern China to the era of
U.S. baby boomers we could learn a lot about which products and services may be important to the expanding market. According the Karla Freeman, in an article for American Salesman appealing to the needs of the “boomers” is in fact the best way to attract them (Freeman 2013).
There needs are likely going to be technologically centered; largely due to the effect which technology has on every aspect of life. From agriculture to healthcare technology plays a vital

Marketing: China and India

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role in the efficiency and success of all of our efforts. As such, this is where the consumers are going to focus attentions and their money. Our test book tells us “at the percentage of the population of working age grows, so does economic stability” (White, 2012, p. 8.5 para 5), this means, that as today’s children of China and India grow they will shape the future markets of these nations.
Both the changes in consumer behavior as they age and the trends in technology will have a profound impact upon the future markets of China and India. While the changes in consumer behaviors may only affect one company (micro-environment), technological trends change markets overall (macro-environment) (White, 20120. If consumers avoid products of services of Company X because they dislike that companies business approach Company Y can still flourish with a similar product. However, if the product of both companies proves to be unreliable, or if something better is created consumers will want something new and reliable.
In China new and reliable is what seems to be happening with creation of many goods and services. According to Saeed Samiee and Peter Walters while the U.S. was suffering an economic hardship during wartime, in 2002 China’s industrial output and exports in the first quarter alone grew by more than 10% (Samiee, Walters, 2003). India as well is said through multiple channels to be the world’s fastest growing economy, so how does one define the market strategies of these two giants, well that is hard. Both nations have…