As noted in the chapter 5, there are significant country differences as to the s
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Question
As noted in the chapter 5, there are significant country differences as to the size of Euromonitor’s Undaunted Striver global segment.
Market Researcher Euromonitor International undertook a global survey of 16,000 online consumers, with questions relating to personality traits, shopping preferences, green attitudes, technology usage, healthy living habits and eating and drinking behavior. Based on this data, Euromonitor proposed four global segments, one of which, labeled the Undaunted Striver, is trendy, optimistic, empowered and outgoing. The segment represented 33% of Brazilian respondents, 41% of Chinese, 49% percent of Indians, 4% of French and Germans, 13% of Americans, and only 2% of Japanese. How do you explain these differences?
Explanation / Answer
This white paper was relesed in March 2013 by Euromonitor. Out of four global segments, Undaunted Striver, is trendy, optimistic, empowered and outgoing. Undaunted Striver is one who is ready for new things and is fearless in his buying approach and this segment of consumers can make a difference, a big difference in world market. Among all countries mentioned, India is the youngest among all as the average age of Indians today is around 29 years since India has more than 50% of its population below the age of 25 and more than 65% below the age of 35. It is expected that, in 2020, the average age of an Indian will be 29 years, compared to 37 for China and 48 for Japan. This means that all four abilities of Undaunted Striver i.e. trendy, optimistic, empowered and outgoing is co related with the age of the consumer. The average age of Indians is less then all others which shows that the young India today is more focussed, believer and fearless then the past generations. Indian consumer today is more health conscious, spent lot more on his fitness regime then before.
Undaunted Striver stands out as being the most trend oriented and product focused. The latest, most upto date products is what these consumers want and they are often willing to pay more for them. In addition to their focus on current trends, Undaunted Strivers likes to be the main hero of the movie, means this consumer type likes to be popular at parties and lead incredibly active social lives, building relationships at home, work, and in their broader community.
When we compare Indian of 29 years to Japanese of 48 years then naturally an Indian will be more trendy, optimistic, empowered and outgoing.
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