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US millennials a popular target for brands

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Millinials

NEW YORK: American millennials – the generation of people aged 17-35 – are a popular target for advertisers and brands, but companies risk missing out by approaching them as one homogenous population.

From Gillette razors to McDonald’s and American Express, every major American company is touting its efforts to attract these young people, considered the workforce of tomorrow and the new generation of consumers. ExxonMobil and Chevron no longer hesitate to highlight their late and forced conversion to the fight against climate change, a subject important to millennials, who will suffer its most serious consequences.

“I think it’s a good idea to focus on millennials in the sense that it’s a huge market,” said Ajay Kohli, a professor at Georgia Tech University. “But I don’t think it makes sense to play millennials as a homogenous group of people who want the same products or same services, or believe in the same values, or are equally price sensitive or equally responsive to give a message,” Kohli said.

It is an opinion shared by Kelly O’Keefe, a marketing professor at the University of Virginia, who notes that there is significant diversity in the 75 million millennials who reside in the United States.”Some voted for Trump. Some for Clinton. Some drink craft beer. Some Pabst. Some only buy organic foods, but Millennials are also among the largest consumers of processed foods,” O’Keefe said.

“Many companies make the mistake of treating Millennials like they share a single personality and a common set of values. They don’t!” Faced with public mistrust of banks after the financial crisis, Capital One is seeking to become the bank of choice for millennials by transforming branches into cafes where you can have a cappuccino while negotiating a loan.

“People who actually go to bank branches, we call them ‘wanters’ and ‘needers.’ You found millennials among ‘wanters’ and you also found millennials among ‘needers,'” said David Allison, an expert in consumer habits whose firm has conducted thousands of surveys to form a database in the United States, Canada, and China.

“‘Wanters’ are looking for a personal relationship with the banks; ‘needers’ are looking for a social status, for them a bank is a serious place, they will be looking after my money and that’s going to make me feel like I’m a serious person who has money,” Allison said, adding that what matters is what services to offer the two categories. He urges companies to eliminate demography in their marketing approach because it often leads to stereotypes.

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Bears growl at Hong Kong bourse

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Bearish bourse

HONG KONG: Shares fell more than one percent Tuesday, hit by concerns over rising  Iran-US tensions and as investors await this week’s crucial trade talks between  Donald Trump and Xi Jinping.
The Hang Seng Index sank 1.15 percent, or 327.02 points, to 28,185.98. The benchmark Shanghai Composite Index fell 0.87 percent or 26.07 points,
to 2,982.07, while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, lost 0.99 percent, or 15.63 points, to 1,560.46.

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Oil prices rise on US-Iran concern, stocks up ahead of G20 talks

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Oil prices rise on US Iran concern stocks up ahead of G20 talks

HONG KONG: Oil prices extended gains Monday as rising US-Iran tensions fuelled supply concerns, while Asian equities also edged up ahead of a crunch meeting between Donald Trump and Xi Jinping this week.

Both main crude contracts are up almost 10 percent since Tehran last week shot down a US “spy drone” for breaching its airspace, ratcheting up fears of a conflict between the old foes.

At the weekend Trump said he would impose fresh sanctions on Iran, following bans of countries buying its oil, while US media reports said Washington secretly launched cyber-attacks against missile control systems and a spy network.

Both sides say they want to avoid war, but tensions have spiralled as a series of incidents, including the drone downing and recent attacks on tankers, raised fears of an unintended slide towards conflict.

The US president said he was ready to reach out to Iran if it renounced nuclear weapons, adding that if leaders did so “I’m going to be their best friend”. But Iran continues to insist its atomic programme is for civilian purposes.

Brent rose 0.3 percent Monday and WTI was 0.5 percent higher.

“The geopolitical escalation in the Middle East is unquestionably a bullish short-term signal for oil markets, as even the thought of 20 percent of the world oil supply being affected is enough to trigger significant tremors,” said Stephen Innes, managing partner at Vanguard Markets.

“And these tremors are noticeably moving up the Richter scale.”

The stand-off, coupled with a weak dollar as the Federal Reserve flags an interest rate cut, has helped push gold prices to six-year highs above $1,400 as dealers look for a safe haven to park their cash.

 

 

 

 

 

 

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Qatar Emir announces $3 billion for Pakistan

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Qatar Emir Imran han

ISLAMABAD: Emir of the State of Qatar Sheikh Tamim bin Hamad Al Thani has announced $3 billion fro Pakistan in deposits and direct investments from Qatar.

It follows Saudi Arabia and the United Arab Emirates pledging aid packages for Pakistan. Riyadh has given a $3 billion loan to Pakistan whereas UAE provided $1 billion.

The south Asian country and the International Monetary Fund (IMF) had reached an agreement in May on a loan of about $6 billion to overcome economic crisis.

Pakistan and Qatar ink MoUs

Pakistan and Qatar on Saturday signed three different memorandums of understanding (MOUs) to further enhance the mutual cooperation in areas of trade, business, tourism, and investment.

Prime Minister Imran Khan and Amir of the State of Qatar Sheikh Tamim bin Hamad Al Thani witnessed the signing ceremony held here at the Prime Minister House.

The memorandum of understanding on the establishment of Pakistan and Qatar Joint Working Group (JWG) on trade and investment was signed by Finance Minister of State of Qatar Ali Shareef Al Emadi and Advisor on Commerce Abdul Razak Dawood.

Secretary-General of Qatar National Tourism Council Akbar Al Baker and Minister for Inter-Provincial Coordination (IPC) Dr. Fehmida Mirza signed the MoU for cooperation in the field of tourism and business events between Qatar and Pakistan.

Another MoU on the establishment of cooperation in the field of exchange of financial intelligence related to money laundering associated predicate offenses and terrorism financing between the Financial Information Unit of State of Qatar and the Financial Monitoring Unit of the Government of Pakistan was signed by Sheikh Ahmed bin Eid Al Thani, Head of Qatar Financial Information Unit and Muneer Ahmad Acting Director General Financial Monitoring Unit.

 

 

 

 

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