Consumer Behavior MK 527Paulina Jaswiec

Generation Y American Millennial

Introduction Personal testimony

The Fallen Star & the Domino Economic Effect, by Paulina Jaswiec

Background

Millennia’sGeneration Me Echo Boomers Trophy KidBoomerang Generation Hero GenerationGeneration Next

Who they are Generation YGeneration Y, is from the years of 1980 to 2000.

They are described as: • approval seekers • motivators• demand rewards• liberals • expressive • urban unit• entitled to all• digital experts• Diverse • community oriented

Political Stance

Consumer Behavior • veto all governmental safety• economic difficulties • live with relatives• hold on the blossoming of adult • Obama to fix the problems, and

when little change came about- they lost hope in the legislative powers.

Education Level

Consumer Behavior • Most educated and driven

generation then ever seen before

• After freshly coming out of college graduates could not find jobs and decided to go back into school

Work Ethic&

Religion

Consumer Behavior • that found job had high

expectations• Majority of this segment have

two part time jobs but have a bad worth ethic

• Non-religious just spiritualty

Lifestyle & Priorities

VALUES

what they wanttechnology community

Technology

▪ Digital Tech and Social Media crazy.

▪ Best multi-taskers ever in history

▪ Sleep with devices, or are constantly on them.

▪ 97% own computers, 94% own cell phones

▪ first generation to ever have computers at home

▪ They value all the profiles they have and use them as a self-expression forms- yelp, facebook, LinkedIn, dating online, twitter, jango, and blogs.

Community Values

▪ watch their parents spend 70% of their time at work or working- running to pay bills T

▪ they spent most their time raising their own siblings.

▪ being grown up, feeling they have already parented in their life- they prefer to not rush into marriage and kids

▪ They realize that they want to be the best parents one day and value parenthood

▪ grew up at a time where 30- 40% of other parents were divorced/ divorcing.

influences on consumer behavior

*Responsive

*Digital_NativesResults

*Trend Hunter

*Social MediaTarget

*High Purchasing

powerPower

Millennial Influence

Consumer Behavior Opportunities Target topics for this segment: • mobile marketing • green marketing• inspirational strategy• experience and entertainment strategy• service programs, digital marketing• retail environment• price discrimination• sensory preferences• two way communication• social responsibility• 3 M’s (monitor, measure, manage)• promo’s• best channel marketing 

What they are looking for: truth, experience, freedom to make their own

References Goldstein, D. (2013). What is Customer Segmentation?”MindofMarketing.net, May 2007. New York, NY.Goldstein, D. (2013). Marketing & the 5 W's: why every marketer should take a journalism class. MindofMarketing.net, May 2007. New York, NY.Howe, N & Strauss, W. 1991. Generations: The History of America's Future, 1584 to 2069. Harper Perennial. ISBN-10: 0688119123Lavendar, B & Parent, N. (2012- 2013) Bank of Canada Review, Internal Economics Analysis: “The US Recovery from the Great Recession: A Story of Debt & Deleveraging”  http://www.bankofcanada.ca/wpcontent/uploads/2013/02/boc-review-winter-12-13-lavender.pdfHowe, N & Strauss, W. (2000). Millennials Rising: The Next Great Generation. New York, NY: Vintage Original. p. 370.ISBN 0-375-70719-0. Retrieved 13 November 2013.Pew Research Group. (2010, February). Millennials: A portrait of generation next. Confident. Connected. Open to change. Retrieved from google scholar. Retrieved from: (http://www.pewsocialtrends.org/files/2010/10/millennials-confident-connected-open-to-change.pdfRampell, C. (2013). The New York Times, Magazine: “Boom, Bust, Flip”  by Retrived from google November 12, 2013 http://www.nytimes.com/2013/10/06/magazine/ boom-bust-flip.html?ref=recessionanddepression&pagewanted=all