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Youth Market The youth market is critical not only to marketers marketing youth targeted products, but also all consumer products. Building brand awareness in youth has been a mainstay of mainstream consumer products and services marketers who wish to build brand loyalty not only now but for the future. Certainly the youth market controls a still increasing proportion of disposable income thoughout most developed and developing countries in Asia. Entry level salaries are increasing from their very low levels of yesteryear, and middle to upper-class parents, contrary to common belief, are often very generous with allowances to their children. But it is in building brand loyalty that the youth market has the largest potential. Banks in countries world-wide traditionally offer special "youth" accounts tailored for this market, losing on small bank balances early but gaining from the awareness of the brand when youth converts to mainstream accounts and services. CNN today offers a youth market program for much the same reasons, and Apple's strategy of donating their computers to schools, was the closest Apple came to winning the PC race with IBM and DOS/Windows a decade or so back. The Thai youth market shares some common characteristics with other Asian and Western youth markets. Yet there are some major differences. Thai youth are perhaps the most fashionable of certainly their neighbours and perhaps most of Asia. The Thai advertising industry produces some of the most creative promotions in Asia, despite budgets that are extremely low. Thai youth attitudes are affected by the same Buddhist religious and national culture that pervades Thailand generally. In comparason to Chinese Buddhism and Confucianism, this culture encourages individualism, youthful idealism and tolerance and respect for divergent views. It also shares the respect for age and family. At the same time however, it is conservative - embracing change, ...but cha cha.. (slowly.. slowly..) Marketers could do well to review the summary of this recent survey from ACNielsen on Thai youth attitudes. Reinforced is the very strong influence of Japanese role models and trends, mirroring the Japanese influence in business following Japan's massive investments in Thailand in the past couple of decades...... Earlier this year (April 2000), ACNielsen conducted a study to "better understand young Thai people's current lifestyle, values, interests, and opinions" and to "explore attitudes to the future" in terms of personal, family, and social impacts. Dubbed the "Millenium Buzz" project under the ACNielsen Activate brand, the results contain some interesting results, though based on a fairly small sample. The methodology involved 4 Mini-Groups in Bangkok with respondents made up of students and young working adults aged 18-30 of both sexes. Five interviews with "Care-takers" & "Social Commentators" - parents, a high school teacher, a radio DJ, a fashion designer, and an artiste-singer were also adminstered. Mini-group interviews took 2 to 2 and a half hours and used projective techniques such as collages. picture sorting, life documentation (disposable cameras technique), and the "precious posessions" method. According to the interviewers, Thitaphol Chuathong & Chularatana Arthasarnprasit, "...the interviews were rich in their findings and highlighted the strong sense of roots, changing community and changing family values in contemporary Thailand...". The key findings are summarised below:
The working adults reported hardships in coping with the economic crisis in terms of: loss of business
Teens, on the other hand, spent time and
money collecting brand names.
Fashion center - Japan
Higher standard of living
Take care of health, and body. Care about
food intake, make up (women)
Todays teens want to be popular,
like a pop star or actress on TV, model - someone who is creative,
confident
No borders any more between neighboring
countries
Women will be working more, more efficient
and capable than men
Looser morals, dont care who they
sleep with
More in vitro babies
Lots more competition, kids will study
harder
More condos
Outrageous fashions, people will do a double
take
No restaurants, get food from vending machines
Surgery - so you dont have to look
old any more
Hair Care: (Men)
Both fashion and technology expected to
change rapidly
Some optimism, some worry, some concerns
about the future Information from Asia Pacific Management News and ACNielson Thailand. |
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