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Generation y or the millennia generation is comprised of those individual born between 1979 and the year 2000. Most of their parents belong to the baby bommer generation. Therefore the Y generation is estimated to be more than double the population of the baby boomers (Huntley 2006). The y generation is therefore estimated at a population exceeding seventy one million individuals in America alone .Most of the y generation is now in their twenties and early thirties. The y generation is reportedly has higher unemployment rates as compared to the other generations .this mainly due to the economic downturns of the 1990s and early 2000 coupled with the fact that majority of the baby boomers are still not retired. This however does not mean that marketers should estimate this generation .They may have higher unemployment rates but they have a spending power of over two hundred billions dollars every year.
This generation is also very technologically savvy since they grew up in the computer age and prefers to communicate through email social websites phone texts and other technologically advanced on line means of communication. Unlike the X generation the millennia's are said to be less reliant on television as a news source or the traditional news papers .They keep up within the daily news and other social updates mostly through the internet and social media forums such as face book, twitter, and my space(Huntley 2006). The generation is therefore very well updated and is capable of keeping up with the day events in real time through such social media forums as twitter, Internet face book and my space among other means. The generations is said to be very attention seeking and prefers to be guided in issues that they have limited understanding .they therefore prefers feedback when dealing with work related issues or other socia issues.
Unlike the X generation the millennia's as the Y generation is often referred to as are rarely loyal to the established traditional brands such as Nike and Pepsi. However due to their spending powers and population magnitude that generation is capable of promoting new brands to competitively beat the established traditional brands. Due to their technologically savvy nature and preference to communicate via the internet marketers can successfully sell products by advertising through the internet and social media forums. The generation unlike their parents do not respond to celebrity endorsed brands .their preferred advertisement are humorous ironical and corny. Some of the advertisements that the generation has positively responded are usually simple precise and to the point(Huntley 2006). In other worlds this generation does not need to know who is using a certain product to make appealing to them. They are more comfortable in knowing that their friends or their social networks approve for a product to be appealing to this generation.
Due to their liberal nature the Y generation also does not like being told what to do. It is for this reason that advertisements that are endorsed by celebrities rarely strike a chord with this group. The Y generations therefore do not respond to the advertisements that were successful in marketing to the X generation. Since most of the generation X adverts used to suggest that if a well known personality says that a product is good enough for them it should therefore be good enough for us. This kind of marketing is shunned by the Y generation. But it should be noted that this does not mean that they do not like celebrities. They however do not prefer the old generation well known personalities.
The Y generation was nurtured to be achievers and goal oriented. This generatiion is not afraid to question authority skip from one employer to another in pursuit of fulfilling careers and to seek new challenges. Most employers classify them as confident and ambitious and liberal. It is due to this nature that they are mostly uncomfortable with some of the social values that the X generation used to hold dear such as early marriages .Instead they generation Y prefers to establish their careers before marriage they are also known to support the same sex marriages have liberal political views and are more racially torrerant than the older generations. A number of the y generations have also been raised by single parents. Therefore the traditional family values that the marketers used to exploit to sell home products especially the house hold goods are unlikely to impress the Y generation.
It is for such reason that the traditional advertisements for such products as cereals and other food products that featured the traditional heterosexual families. Which were popular with the advertisers and the generation X may be deemed as discriminatory and tasteless by the Y generation. For example a cereal advertisement that features a mum and a dad and their kids sitting at the dining table having breakfast. Such an advertisement may be appealing to the X generation, but trust the Y generation to question why the gay families are being left out. In other words in order to successfully market products to the Y generation advertisers needs to consider their liberal values and their high opinion. Therefore an appealing advertisement for cereals that may strike a chord with this generation may simply state:"cereals from company X the best thing every morning". If the adverts are not simple and precise then if they were to be appealing to the Y generation they should be humorous or ironical.