“Carmakers Target Gen Y” Case Study Essay
Explain the strategy behind Asian automakers targeting Gen Y
The Asian automakers employed three criteria of target market strategy for capturing the generation Y market. The three criteria are Standardized Global Marketing, Concentrated Global Marketing, and Differentiated Global Marketing. The first, standardized global marketing focuses on mass marketing in a single country. Their decision to target the generation Y in the American market is their implementation of Standardized Global marketing. The Asian automakers also saw that due to the Japanese restrictions on the number of children a family can have, the number of Generation Y consumers in the Asian market would be low. In response to …show more content…
After all, they do not have the available funds as their parents. They saw that the generation Y consumers preferred the Japanese models which is a trend of “coolness” (Keegan & Green, 2011) among them. The designs of the Japanese models are different to allow the younger generation to express and distinguish themselves in a new kind of way through the design of their cars that are different from their parent’s cars. Another source of implementing their market differentiation is through the type of advertising used. The Asian automakers choose to advertise their product in different ways tailored to attract the attention of those of generation Y. Since the generation is very much accustomed to social media, electronic media sources, internet and websites, which are just a few of the modern ways the automakers choose to advertise to generation Y. To this point, reports show that they are seeing signs of success and the possibility of building brand loyalty among the younger consumers (Keegan & Green, 2011).
Analyze the strategy behind Honda and Toyota creating new vehicles such as the Element and the Scion.
From my reading in the chapter and the case study, I believe that Honda and Toyota employed various parts