Question 1: Generation Y is the subculture that watches the least amount of television and therefore are not exposed to as many commercials as other groups. What can marketers do to efficiently communicate with this group?
Marketers in the twenty first century often have to think outside of the square when trying to promote or present a product in today’s market. Reflecting upon Australia’s economic state ‘ marketing becomes more important during an economic downturn as consumer spending decreases and overproduction and surplus result’. When trying to market a product to generation Y that is a young sophisticated group (18-29 yrs), in today’s day and age it would be silly for a marketing company not to target the Internet. As from previous studies it is shown that generation Y watches the least amount of television comparing the to generation X and the baby boomers (Reference). A researcher by the name of Timothy Reisenwitz states that “ generation Y is the first generation in which Internet consumption is exceeding television consumption”. According to this statement the best way that marketers should advertise and promote products or services would be to target the internet with such social media websites like Facebook and twitter, which are regularly used everyday by generation Y.
Generation Y accounts for twenty five percent of the population (McMillan, 2004) with majority of this twenty five percent would use social media sites, such as Facebook and Twitter, therefore providing the marketers considerable numbers to be able to target when advertising. Websites and other frequented social media websites provide tremendous opportunities for companies and their advertising efforts, because “consumers want to interact with the brand and enjoy the feeling of it “ (Dahlen, Rasch and Rosengren 2003. Pg. 32).
Marketers must adapt to a new climate, which they now are forced to work within, thus, that advertisers adjust to a new medium that is not bound by either space or time and that has the capability to involve and engage the consumer (McMillan, Hwang and Lee 2003. Pg.400). With the internet as readily available nowadays their is no excuse why marketers should not be able to advantage of the internet as most workers and students are on or have access to a computer at any point in time.
With the current stage of marketing directed towards Internet usage, you cannot forget what good use of a resource television still is. Television still allows a major proportion of the population to be exposed to advertising and promotion and it will always be there as an avenue for advertisement.
It is commonly known that generation Y is living with their parents much longer than either baby boomers or generation X. As a result there are many households where there are adults living in parental environment. What are the longer term implications of this in terms of decision making?
There are several reasons that...