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Globalization Research project - Millenial

University: Imperial College London

  • Unit No: 11
  • Level: Undergraduate/College
  • Pages: 8 / Words 2076
  • Paper Type: Assignment
  • Course Code: MC4F12
  • Downloads: 23
Question :
Answer :
Organization Selected : Millenial

INTRODUCTION

It is required for every organization is to analyze their customers behavior for gaining attention of them that can help in increasing their products marketing in the national and international areas. The changing dynamic is that the consumer are became exposed to the products, lifestyles and behavior pattern of buyers in other countries. There are various reasons, for example that barriers come down and consumer and goods move freely in all over the world without any restriction. The company mainly change traditional pattern of behavior by establishing new products, services and ideas in the global market area. Along with this, globalization is the process of communication and integration between people, organization and governments in all over the world (Schtte and Ciarlante, 2016). Globalization is the procedure which enhancing the interconnectedness among different nations. In current time period, the prosperous economic development is typically gained due to increment in making connection with various countries as per the results in better standard of living and improving quality of life. In developing countries, globalization is an essential process due to this they gain immense benefits. Millenial define as the generation which follows generation Y with birth years ranging from the early 1980s to the 2000s.The term millennial is basically considered to apply an individual who reached adulthood around the turn of 21st century. The social habbit of millenial is using current technology and method such as Facebook, Instagram and other latest channels. Millenial use internet and it is considered as the first digital natives. The term millenial generation is exist in all over the world and they have variety of social habbit which are related to internet.

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Aim: To ascertain the role of globalization and social habit of millenial regarding evolution of consumer behavior. A case study on Oak cash and Carry.

Research Objectives:

  • To understand the concept of globalization and social habbit of millenial.
  • To ascertain the role of globalization and social habbit of millenial in evolution of consumer behavior.
  • To determine the relationship between the concept of globalization social habbit and its impact upon consumer behavior.

Research Questions:

  • What is the concept of globalization and social habbit of millenial ?
  • What is the role of globalization and social habbit of millenial in evolution of consumer behavior ?
  • What is the relationship between the concept of globalization social habbit and its impact upon consumer behavior ?

LITERATURE REVIEW

Concept of Globalization and social habbit of millenial

According to view point of Schütte and Ciarlante (2016), it has been concluded that globalization concept in which a country is trading globally. Although, whole world is increasingly behaving like a single market. The trading of goods and services among countries makes the whole market globalized. The services which is traded among countries can be FDI or other types of services. FDI can only be possible when a particular country is globalized. Some other features of Globalization are perhaps even more interesting. In a broader way, globalization refers to the integration of economies and societies. An increasing share of consumption consists of goods that are available from the same companies almost anywhere in the world. The technology that is used to produce goods is increasing day by day.

However as per Parsons, Maclaran and Chatzidakis (2017), the social habbit of millenial is that they are likely to use their phones and a prime outlet which engage with social media. Smartphones provides a plethora of way of users that can engage with other forms of contents and social media gives as a notable piece. The company need to focus on people habbit who are adults and born within 1980s and 2000s.

Role of globalization and social habbit of millenial in evolution of consumer behavior

The millenial constitute an essential group of consumer behavior and attitude. Therefore, for know how to they behave has became an important issue. The millenial are considered a generation of young people. It is characterized by use and adaptation of technology in their daily lives and their values, life experience, motivation and common buying behavior. This generation is born between 1980 and 2000. they are currently between between the age of 17 to 37 years old and as per this geographical area are different theoretical position in this generation range. Consumer behavior, cultural factors and condition which are determine them as reflection and research. Such changes related to the perception of consumption which have change in dramatically manner (Parsons, Maclaran and Chatzidakis, 2017). The role of globalization is the process which help countries in making interactions and connection with different nations regarding trade, purchasing and selling of products from one place to another. In this, social habbit of millenial is internet so they are mainly influence by digital technology. Such young people are moving away from the conventional media and target new or interactive media. The globalization help them in analyzing and examining the whole country millenial generations which evolved with consumer behaviour. Therefore, it is required for Oak Cash and carry is to providing those services and products which assist in fulfilling all needs and demand.

Relationship between the concept of globalization & social habbit and its impact upon consumer behavior

As per the view of Zeugner-Roth, Žabkar and Diamantopoulos (2015) Globalization may define as the combined influence of trade liberalization, market combination and financial investment which enhancing the distribution level of products among various countries. The international market equipped with the use of worldwide communication which has mainly focus on international business area that can keep the world markets such as open and competitive exercises. Social habbit of Millenial generation are directly impact on consumer behaviour and they are getting high quality based goods and services to their customers in better manner. The millenial is considered as generation Y people have ability to acquire and get quality goods and services that directly impact on consumer behaviour. There are various consumer who have different needs and demand so this is the role of firm is to satisfying their all demand in proper manner by providing them desired goods. Consumer can change their taste and preferences as per their mood so this is required for Oak cash and carry is to analyze whole customers needs or behaviour. This will help them in gaining attention of large number of customers towards firm products and facilities.

RESEARCH METHODOLOGY

In this section, researcher is conducting investigation by collecting and gathering necessary data and information in proper manner. This will help in making appropriate decision for gaining higher income and profitability to the company. in addition to this, this will throw light on that it is helpful in developing effective techniques and methods for gaining high income and revenue without doing any other activity (Funk, 2017). This is consider as main aim in which they are collecting and gathering accurate data in formulating tools which can be used by investigator at the time of making appropriate strategies. In this part, data and information has been collected for gaining more knowledge in better manner and also help in making correct decision for the welfare of an organization.

Qualitative method It is the scientific method of observation which helps in collecting and gathering non numerical data. It is that type of research which define as the exploratory research and it is used for gaining an understanding of underlying the reasons, opinions and motivations. This will provides insights into the problems which assist them in developing ideas or hypothesis and potential quantitative research. In addition to this, qualitative method of research is also used for uncover the trends in thoughts and opinions which is deeper in the issues and problems (Olga Lo and Razaq, 2014). This is the collection method which is very important for researcher while conducting investigation. There are various methods which includes such as focus groups, individual interviews and participation.

Quantitative method this is important research method for investigator that is used for quantify the problem by way of generating numerical data and information which has been transformed into usable statistics. This can be used to quantify the attitude, ideas, behavior, opinion and other defined variables which generate results with the help of larger sample population. In this, research use measurable data to develop accurate facts and uncover the patterns in research. Quantitative data collection methods are more structured than qualitative data collection tool. This is the technique for gathering information by using various sources such as surveys involves online surveys, mobile survey, paper survey, face to face interviews, systematic observation and so more (Pete, 2014). In this report, qualitative research method is used because this will help in collecting new and original which help researcher in developing appropriate research in given time period.

Primary method It is the research which is develop for meet the specific and unique needs and demand of company. This is the fundamental investigation that is conducted by investigator and firm getting benefits for such method of research in proper manner. There are various primary researches such as focus groups, surveys, interviews and observations. It is defined as factual, firsthand accounts of the study written by an individual who are doing partially examination. This method is vary how an investigator run an experiments but it is typically follows the scientific method or techniques. This research method main aim is to acquiring new and original data while conducting research. It is bit of complex which conducts primary research method because this will help in save time, cost and money and prior information about the subject topic in better manner. With the view of getting required information, the investigator has start from scratch. The research has been performed with the help of various sources such questionnaire, interviews and observation, etc.

Secondary method It is defined as an analysis and interpretation of primary research method. This method is writing secondary research which is used for collecting and gathering accurate facts or figures that are relevant as per the topic (Vranken and et. Al., 2014). For example, secondary research often takes the form of results from two or more findings that are appropriate for the research. It involves use of data, already collected through primary research. As the data available is analyzed and evaluated the investigator to figure out the data of their choice and preferences for collecting relevant data and information. In this type of research, the investigator use data and information which help in collecting by government agencies, association units, labor unions media sources and so on. The assembled is primary which is published in newsletter, magazines, pamphlets, journals, reports and books.

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In this assignment, both primary and secondary method of investigation are used by company because this will assist in analyzing all data and information which are relevant for developing accurate research project.

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TIME SCALE

It is the type of bar chart which is illustrated a project schedule for business activities effectively. This is used for planning projects of all sizes and they are useful way to showing the work scheduled in specific manner. It is one of the most appropriate scheduling methods in the project management. In this time scale, learners are required to update and upgrade their all important business operations and functions because this will help in getting desired targets and goals of company in better manner (Asioli and et. Al., 2017). Along with this, this will throw some light on that there are large numbers of activities or days which are going to be covered in this project work and there are various activities that are required to be completed in given time period. They are also trying to reaching with such activities to gaining desired goals and objectives of an organization. In addition to this, before developing and preparing the time scale, company need to achieve their data and information that has been formulated in making appropriate decision for the welfare for company and also try to finish all work in given time frame.

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