Consumer Marketing and Branding Strategies
Consumer Marketing and Branding Strategies
University of Phoenix
MKT/GM571
Robert Kolber
August 2, 2010
Consumer Marketing and Branding Strategies
Overview
The consumer electronics industry has undergone a major entertainment shift with the advent of the 3 dimension high definition television (3D HDTV). The technology has advanced to the point in which consumer demand for 3D television has become profitable from a global marketing view. The Chinese economy appears poised to take advantage of the latest developments in the consumer electronics industry. The United States is a market in which the demand for the latest consumer electronic trends is quite strong. How China markets and brands its version of the 3D HDTV will determine if it will become a viable contender in the industry.
Identification of Selected Domestic and Foreign Countries Prior to creating an effective marketing strategy, researching current market trends for the domestic country, China, and the foreign country, the United States, is necessary. Through researching and studying the consumer’s behavior, the company will be able to create an effective marketing plan to reach the desired results. Reviewing the domestic market and the factors that affect consumer preferences, the similarities and differences will allow the company to determine the effective types of marketing strategies and make adjustments to accommodate the foreign market. A thorough consumer analysis of the dominant religion, education, political, and economic stability of both countries will set the foundation for the marketing strategy. As the highest populated country in the world with over 1.3 billion people, China’s real gross domestic product (GDP) per capita is estimated at $5,383 that some argue is because of the population level that offsets the rich economy (CultureGrams, 2010). The communist state is the fastest growing economy and has become “one of the world’s largest trading countries as well as a
University of Phoenix
MKT/GM571
Robert Kolber
August 2, 2010
Consumer Marketing and Branding Strategies
Overview
The consumer electronics industry has undergone a major entertainment shift with the advent of the 3 dimension high definition television (3D HDTV). The technology has advanced to the point in which consumer demand for 3D television has become profitable from a global marketing view. The Chinese economy appears poised to take advantage of the latest developments in the consumer electronics industry. The United States is a market in which the demand for the latest consumer electronic trends is quite strong. How China markets and brands its version of the 3D HDTV will determine if it will become a viable contender in the industry.
Identification of Selected Domestic and Foreign Countries Prior to creating an effective marketing strategy, researching current market trends for the domestic country, China, and the foreign country, the United States, is necessary. Through researching and studying the consumer’s behavior, the company will be able to create an effective marketing plan to reach the desired results. Reviewing the domestic market and the factors that affect consumer preferences, the similarities and differences will allow the company to determine the effective types of marketing strategies and make adjustments to accommodate the foreign market. A thorough consumer analysis of the dominant religion, education, political, and economic stability of both countries will set the foundation for the marketing strategy. As the highest populated country in the world with over 1.3 billion people, China’s real gross domestic product (GDP) per capita is estimated at $5,383 that some argue is because of the population level that offsets the rich economy (CultureGrams, 2010). The communist state is the fastest growing economy and has become “one of the world’s largest trading countries as well as a
References: CountryWatch. (2010). China. Retrieved July 31, 2010, from http://www.countrywatch.com.ezproxy.apollolibrary.com/cw_country.aspx?vcountry=37 CountryWatch. (2010). United States. Retrieved July 31, 2010, from http://www.countrywatch.com.ezproxy.apollolibrary.com/cw_country.aspx?vcountry=182 CultureGrams. (2010). China. Retrieved July 31, 2010, from http://online.culturegrams.com.ezproxy.apollolibrary.com/secure/world/world_country_sections.php?contid=3&wmn=Asia&cid=34&cn=China&sname=Education&snid=21 CultureGrams. (2010). United States. Retrieved July 31, 2010, from http://online.culturegrams.com.ezproxy.apollolibrary.com/secure/world/world_country.php?contid=6&wmn=North_America&cid=169&cn=United_States_of_America Grant, K. B. (2010, January 9). HD 3DTV leaves HDTV in the dust at CES. Smart Money. Retrieved July 31, 2010, from http://www.smartmoney.com/spending/deals/hd-3tv-leaves-hdtv-in-the-dust-at-ces/ Interestalert. (2008). Parks Associates Estimates 80% of TVs Sold in U.S. in 2014 Will Be 3D-Ready. Retrieved July 31, 2010, from http://interestalert.com/story/07270000aaa06765.iw/siteia/COMPUELE/computer_and%20electronics.html Kotler, P. & Keller, K. L. (2007). A Framework for Marketing Management (3rd ed.). New Jersey: Prentice Hall. UNESCO. (2010). Education in China. Retrieved July 31, 2010, from http://stats.uis.unesco.org/unesco/TableViewer/document.aspx?ReportId=121&IF_Language=eng&BR_Country=1560