Maung Paw Htun - Modern Marketing Strategies for More Profits

Chapter [ 1 ]

This market-leading society

The Asia Pacific market is growing rapidly. At the same time, the status and standard of consumers have also increased significantly. It has reached a point where consumers need to be attracted by modern marketing methods, and the reason is that consumers can choose products according to their preferences.

The Asia-Pacific region has experienced significant economic growth over the past two decades. Many countries in the region have benefited from this growth, with Japan being the most affected. Similarly, other emerging economies in Asia, such as China (Taiwan),

The "Four Asian Tigers" of South Korea, Hong Kong, and Singapore have also seen significant industrial growth. In addition, Vietnam, Cambodia, and Laos, which have recently been devastated by civil war and poverty, have realized the error of their "closed door" policies and are now actively opening their borders to foreign investors.

Income and education increase

The Asia-Pacific region has seen significant economic growth over the past two decades. And the prospects for future growth are bright. As a result, the social structure of these countries has also changed rapidly. In the past two decades, economic growth in Japan, the four Asian tigers, and the four emerging economies has changed very rapidly.

In addition, as consumer incomes have increased, so has credit purchases. Bank loans and overdrafts in this region have also increased more than ever before. Another competitor is the “credit card” system. Table 2 shows the percentage growth of credit card systems in Asia Pacific countries compared to the rest of the world, both in terms of number and dollar value.

The rise of credit card adoption in this region not only reflects economic growth, but also the spending habits, lifestyles, and living standards of the region's consumers.

The past twenty years have seen the rise of lending as a social

It was considered a “bad thing.” Today, anyone who has never borrowed money is ridiculed as a fool. In the past, saving money was considered a “reputation,” but today, those who can hold a wide variety of credit cards are bragging about themselves as “reputable.” With better incomes and easier access to credit, the new Asia-Pacific consumers are becoming more demanding and demanding more goods and services, both in quantity and quality.

One reason is that the new generation of Asia Pacific consumers is more educated than the older generation. Therefore, they are more likely to choose the best quality products based on their own knowledge and judgment.

Thus, traditional marketing methods have become narrow-minded and ineffective for the modern consumer.

As consumers become more educated, the means to improve their knowledge and understanding also increase. Mass media such as newspapers, magazines, and television have become important tools for shaping the consumer's knowledge cycle.

As incomes rise and consumers become more educated, they are increasingly demanding more products and services from the stores they shop at. This has led to a shift in distribution patterns in the Asia-Pacific market in recent years. Modern shopping malls, supermarkets, department stores, and specialty stores have sprung up in major cities in developing countries and in major cities in emerging markets such as Bangkok, Kuala Lumpur, Jakarta, and Manila.

At the same time, traditional distribution systems are also disappearing. For example, as supermarkets and convenience stores have entered Singapore's urban areas, the old street corner stores have disappeared. In general, rising incomes and increasing education have severely challenged traditional distribution systems. As a result, more modern and advanced retail systems have rapidly emerged.

From 'I want to' to 'I want to'

As incomes rise and education increases, the new Asia Pacific consumer is moving beyond a “need” society to a “want” society. In other words, consumers are no longer satisfied with just meeting their basic needs for survival, but are increasingly craving more. They want more and more.

Thus, once luxuries have now become necessities. An example of this is the automobile. The number of cars produced and consumed has increased incredibly. Many countries

The number of cars has doubled in the past ten years.

In Japan, the number of cars increased from 31 million in 1980 to 51 million in 1990. In Bangkok, there were only 450,000 cars in 1997. However, in 1987, the number increased to 900,000, and by 1990, there were 2,000,000.

It has grown. In China (Taiwan), the number of cars increased to (1-9) million in 1990, reaching an uncontrollable level. No other country has matched this growth rate.

The appliances that have become necessities, from being luxuries, include radios, cassette players, televisions, refrigerators, air conditioners, and many other items. In economically prosperous countries such as Hong Kong, China (Taipei), and Singapore, the desire for not only a car for a man but also for his wife has grown to such an extent that they are now buying more than just a car. The same goes for not only cars, but also televisions and in-car telephones.

This desire-over-need mentality is further fueled by another interesting phenomenon. It is that the increasingly aware consumer is no longer satisfied with the simple, traditional utility of a product, but is increasingly obsessed with the “beauty” of its color, design, appearance, logo, and name.

As a result, the demand for stylish clothes has increased. In China (Taiwan), the number of cars increased to (1-9) million in 1990, reaching an uncontrollable level. No other country has matched this growth rate.

The appliances that have become necessities, from being luxuries, include radios, cassette players, televisions, refrigerators, air conditioners, and many other items. In economically prosperous countries such as Hong Kong, China (Taipei), and Singapore, the desire for not only a car for a man but also for his wife has grown to such an extent that they are now buying more than just a car. The same goes for not only cars, but also televisions and in-car telephones.

This desire-over-need mentality is further fueled by another interesting phenomenon. It is that the increasingly aware consumer is no longer satisfied with the simple, traditional utility of a product, but is increasingly obsessed with the “beauty” of its color, design, appearance, logo, and name.

Therefore, beautifully designed clothing is a means of mass communication (especially television).

The advent of television in this region has led to new ways of reaching consumers with various products through advertising. Nowadays, most of the television programs and films in this region are imported from Western countries. Therefore, consumers are constantly exposed to Western habits and Western goods.

In the old days of low income, such things were only imaginary objects. Today, however, they have become a reality. Therefore, consumers are inevitably influenced by Western attitudes, behaviors, and Western characteristics. A striking example is the emergence of a new generation of young people called 'street urchins', which did not exist in this region before. This is also a reflection of Western culture.

Due to rising incomes, increasing awareness, and Western influence, the Asia-Pacific consumer is becoming "thrifty" in terms of consumption (or food). He cannot be satisfied with ordinary things.

Now, he has more wants than needs. His demands for exotic items are increasing.

As consumer demand (or “demand”) increases, the number of goods and services available in the market increases. This demand not only results in a variety of goods and services, but also in the production and distribution of the same goods and services under different brands.

Here, manufacturers and distributors are also facing intense competition. They are trying to sell their products in various ways and are rushing to gain market share. In order to gain maximum market share, they are developing more effective methods and methods that will make their products stand out in the market. This is essentially a marketing strategy that is developed to “enter the market” for their products.