Generational Marketing : Generation Y and Consumer Behaviour

• This paper deals with the study of generations for marketing purposes, mirroring a belief that the generation dimension has been underemphasized in marketing research and practice. It has been suggested that generational cohorts are superior to age as segmentation variable. However, as this paper emphasizes, understanding characteristics of and differences across generations brings advantages into many areas of marketing. The results are based on a model that deals with four levels of analysis: society and its dominant values, the market environment, the social environment and individuals. Generation Y and their role in consumer markets is used as an empirical example and illustration. Data on Generation Y are contrasted with data on Baby Boomers, individuals born . The paper reveals some crucial characteristics of the Generation Y cohort. Individuals belonging to this generational cohort, born between 1978 and 1990, have grown up in a branded society overcrowded with commercial messages and a never-ending supply of choices and opportunities. In consumer markets, they are demanding, aware of their rights and their loyalty is limited. They see brands as an integrated part of consumption and personal imagebuilding. Producers, on the other hand, struggle with intensive competition and manufacturing overcapacity in many industries. The study presents some challenging implications of how companies can benefit from considering Generation Y in product development, market communication and the choice of marketing channels. Moreover, by contrasting Generation Y and Baby Boomers, critical dimensions of a generational marketing approach are suggested.

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Business Administration (hsv//eng)

Nyckelord

Generation Y

generational marketing

generational cohorts

babyboomers

företagsekonomi

Business Administration

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