Essay Example on Asia and America: Top Economies & Markets for Business Investments

Asia and America are the world's fastest developing countries in terms of economy as well as the population sizes. These aspects make these two countries to be favorable for business investments creating good markets for goods and services. The continents are also considered as the most potent buyers of products from other states. Asia, as well as America, tend to have the most educated and wealthy people in the world. They also value their food as the most critical determinant of their health.

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The growing populations of these two continents tend to make them top markets in the world. Asia has a larger population compared to the United States of America which makes it a perfect market. The US, on the other hand, has a significantly high population and is a developed country which together makes it an ideal market too. Due to these factors, investors around all corners of the world get attracted to start investment projects in these continents. This is an advantage to them as well as their economies grow, and the level of unemployment reduces. The buying power of these two countries is high. Their spending power is also high estimated to be around $ 825 billion. (Okamoto, 2014).In marketing, the knowledge of the customers is one of the most critical aspects. When an investor imagines the Asian market, it is often essential to be aware that it is not a single group market but rather a market with diverse people and countries. The Asians who live in the United States of America come from countries such as India, Korea, Japan, China, Vietnam, and other countries. The fact that these people are from different nations, they have different preferences as well as languages. Therefore when you think of starting an investment in these countries, one must consider these differences and identify their choices as per their customs. (Okamoto, 2014).An investor who has found an Asian American market and who has an interest in supplying foodstuffs should be aware that these people are health sensitive. They are keen on their health, and as a result, the type of commodity that he/she will be supplying must be of quality and that which is not detrimental to their health. Additionally, these people value their beauty, and this makes them keen and selective on the type of products they go for. So as an entrepreneur, you should know what to supply and what not to supply. It is reported that about 19% of Asian are vegetarians. (Okamoto, 2014).The Asian Americans value freshness and originality of goods. Therefore, focusing on these people as your market for your foodstuffs, then as the supplier, you must be ready to provide fresh and original products. They attribute the freshness of the foods as a determinant of good health which they value most. They also believe that freshness of the foods they eat maintains their beauty which they are also keen about.

An entrepreneur who targets the Asian American as the market has a better position of using the internet to make his sales and carry out other business activities with his target market. Asian Americans are fond of using the internet as a way of entertaining themselves. (Fil, & Ryan, 2014). Thus, making online advertisements as well as online selling will help in reaching most of them as they spend most of their leisure time on the internet. Therefore, it is possible to influence a significant group of them and make a substantial sale. The statistics estimate that over 30%of the Asian Americans spend lots of time on the internet, for the entrepreneurs who are fond of using the internet can take this as an advantage. (Fil, & Ryan, 2014). Overall, putting into considerations the issue about health, proper identification of the market, their needs and traditions are some of the ways that will do a business which targets the Asian American people as the market to succeed.

References

Fil, T., & Ryan, C. (2014). Computer and internet use in the united states, 2013. US Department of Commerce, Economics and Statistics Administration, US Census Bureau.

Okamoto, D. G. (2014). Redefining race: Asian American panethnicity and shifting ethnic boundaries. Russell Sage Foundation.