Carmakers

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Submitted By mondre4life
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Assignment #3: Case 7-2 “Carmakers Target Gen Y”
Monique S. Kearson
Dr. Bao
MKT 505
February 12, 2012

Introduction
Generation Y is a group of US citizens that were born in the early 1980’s and 2002. They are referred to as Gen Y and Eco Boomers, as they have been said to have a tremendous impact on the generation. With totals nearing 81 million the Gen Y era has been the largest of that since the Baby Boomer age. They hold great credit and spending standings with over 200 or more billion reported annually. The ages for the Gen Y range currently from 10 to 30 years of age. I myself can highly relate to many of these findings due to the fact that I am a part of this generation Y era and I do find it to be true and very accurate.(Generation Y) 1. Explain the strategy behind Asian automakers targeting Gen Y
Asian automakers have sought out to target the Generation Y consumer for many reasons. They have found that high priced gas guzzlers are not so popular anymore. Gas has not been at an affordable standstill for years. What does this mean to Asian automakers? They have the opportunity to target young US consumers that are looking for small reliable and fuel efficient vehicles. Asian automakers understand that America is in a crunch so people are looking for more but for less. Their aim is to introduce lines of vehicles that are not only fuel friendly but are pocket friendly as well. As stated by consumer affairs “There are 64 million Gen Y buyers coming into the marketplace," stated by Jim Lentz, Toyota's group vice president and general manager. "We know when they come to market to buy a vehicle, new or used, they will spend on average about $15,000." So Asia figured why not offer a brand new affordable vehicle with added perks for the same price as a used car? I myself feel that this thinking is genius in itself! (Japan's Big Three Take Aim at Gens X and…...

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