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Carmakers Target Generation Y (Case 7-2) Code+ University name Date The strategy behind Asian automakers targeting Generation Y (Gen Y) Asian automakers are currently targeting generation Y since this generation has grown to become relevant consumers in present times…
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This has increasingly attracted much focus as the next target by majority of Asian automakers. According to current statistics, several young people aged between 22- 30 years plan to purchase motor vehicles. Further, the same statistical data indicates that about 64% of females within this age group have already purchased a motor vehicle compared to 44% of their male counterparts (Nickell, 2012). In this regard, Asian automakers try to fulfill the desires of Gen Y by availing them with what they need in a unique way. According to Beard (2003), Gen Y possesses purchasing power to a tune of $170 billion which is expected to continue growing as they progress in their careers. Moreover, by Asian automakers targeting Gen Y, this could be a sign of trust that Gen Y is a brand royal whose desires are not only to serve them as individuals, but the entire community. Marketers continue facing a big challenge in handling Gen Y who does not prefer advertising since they believe advertising causes them to purchase products they do not require. Moreover, they view advertising as one way of increasing product price which goes contrary to their desire of lowest price possible. ...
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