Generation Marketing

Generation X

·         Generation X-born between 1964 and 984

·         consumer group consisting of the post- baby boomers generation, born between 1964 and 1984.

·         Generation-X is estimated to include 46 million Americans, or 17% of the U.S. population, spending $125 billion annually.

·          Generation-Xers are characterized as having a high affinity for technology and as being computer and Internet proficient, skeptical about advertising claims, fast spending, and more impressed by personal style than designer price tags.

They can be divided into three groups including college and graduate students, young professionals, and married couples. Entrepreneurship is high among Generation X-ers, and they tend to move easily from one employer to another. Coffee bars, extreme sports, and adventure vacations have developed in answer to the desires of Gen-X. Moderately priced retailers such as The Gap are favorites of Gen-X

 

Generation Y

•      Generation Y- born between 1982-2000.

•       Generation Y are more likely to make a decision based on the influence of their own peers.

•      Born in the mid-1980's and later, Generation Y legal professionals are in their 20s and are just entering the workforce. With numbers estimated as high as 70 million, Generation Y (also known as the Millennial’s) is the fastest growing segment of today’s workforce.

•      Tech-Savvy: Generation Y grew up with technology and rely on it to perform their jobs better. Armed with Blackberry's, laptops, mobile phones and other gadgets, Generation Y is plugged-in 24 hours a day, 7 days a week. This generation prefers to communicate through e-mail and text messaging rather than face-to-face contact.

•      Achievement-Oriented: Nurtured and pampered by parents who did not want to make the mistakes of the previous generation, Generation Y is confident, ambitious and achievement-oriented.

•      Team-Oriented: As children, Generation Y participated in team sports, play groups and other group activities. They value teamwork and seek the input and affirmation of others. Part of a no-person-left-behind generation, Generation Y is loyal, committed and wants to be included and involved.

•      Attention-Craving: Generation Y craves attention in the forms of feedback and guidance. They appreciate being kept in the loop and seek frequent praise and reassurance.

For Boomers, social contact was easy as they could write a letter, make a phone call or go and see them face to face. 

Gen X-ers, had more options in ways to connect to their friends as they could email each other using 28.8 or pagers sending one sentence messages to each other

This is what Generation Y uses to stay in touch.