Marketing Management Case Study Analysis

3277 WordsOct 14, 201114 Pages
TMA 1 – BMK501-Marketing Management Case Study Analysis I. EXECUTIVE SUMMARY The shift in consumers’ behavior and attitudes today is attributed to a number of important global developments. Chief amongst those are the changing demographics as we head towards an increasingly aging population while at the same time we are witnessing the rise of a new consumer group - the “Generation Y” or the Millennials that threaten to dictate the new rules in buying and doing business. Notably too is the impact of an increased level of wealth and affluence amongst consumers before they were crippled by the recessionary effects of the 2009 Global Financial Crisis. Globalization and the pervasive internet and digital technologies have become…show more content…
The internet and telecommunication technologies, mobile, in particular, has shifted and redefined the way we now communicate, socialize and shop. The nature of engagement and the type of goods (and services) consumers buy has now changed dramatically. As a further insight, the average internet household now has 2.4 Televisions, 2 Personal Computers and 6.3 technology devices - something unprecedented and unheard of before this! III. ANALYSIS OF THE CAUSES OF THE PROBLEM The shift in the consumer behaviors and attitudes arising from the significant global developments are now being studied and analyzed to ascertain the originating causes of the problems (to marketers). Amongst them are: a. Rising Significance of the Millenials (Gen Y) “Generation Y or the Millennials” refer to those born between 1977 and 1997. Now into their twenties and early thirties, they are a rising, significant group of workers and consumers at the same time (making up some 40% of the total population for most economies). With a better monthly income from their better skilled and higher qualification (than the “baby boomers”) and taking to the internet and the latest technologies “like ducks to water”, their likes, wants and needs hence dictate what is produced, how it is produced, for whom it is produced and how it is marketed to them! For a more detailed listing of their other characteristic
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