Economics of Marketing to Generation Y

Transition from a childhood to Adulthood is a critical fator in human life because of changes taking place not in human body but also because of physycological changes in human mind. Marketers across the globe have to target this segment because of the influence they have in the spending decision of not only the family but the society at large. By treating teenagers and growing children like mature customers marketers exploit the feelings of this segment to promote their ideas and products not in the present generation but also to the future generations. This segment represent the feelings of rebellion, thrill adventure and a feeling to be different in its own way to look cool.

Why is this segment so favorite to the marketers? is it because they are more technology savvy and able to recommend products to their seniors or is it because the human pshyce is to be young and choose something which they have aspired when they were young. Or chosse something for their young ones which they had used when they were young. The reasons are unknow what is know is that it works . The buzz marketing is a buzzing word in the world of marketing.

Adolescence is a critical period in human development, and is starting earlier and earlier. The 8- to 16-year old market is in full expansion because of this group’s ever increasing spending power and influence on family spending. By treating teens and preteens like mature consumers, businesses exploit their feelings of insecurity and self-doubt to make them think that they have to use their products or services to be cool.

Rebellious and teeming with confidence, power, physical strength and dominance, bearing the implicit message that this is the way one has to behave to be cool. Gone are the images of sensitivity, compassion or vulnerability, which are all natural and desirable personality traits. May be marketers of today’s date what to use the same traits in their brands as well.

The impact on their self-image and self-esteem is real, and has direct consequences on their development and emotional balance.
young people’s perceptions tend to reflect a more left brain-based view of objects than older people’s perceptions do, one of the impartant reaosns for marketers to target this segment. Marketers make money not becuase people buy sensibly but when they buy on impulse or with emotional bondings. The logic of pricing works diffrently is such case, take an example of Apple iPhone.

However, it not all that easy as it looks like. Many marketers think of Generation Y and teens as impossible demographics. “They’re too cynical; they won’t buy into marketing messages,” they say. Or, “It’s impossible to make them listen; their attention span is too short. There are problems at marketers end as well. There have been instances where to create the buzz the marketers have promoted bad behavior, distorted facts and romance with the diffcult to perform adventures. I would rather recommend the marketers to create the buzz on the Family Fun creating excitement around the products and services with lots of repetion on the positive side messages

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About Sudeep

I am an avid reader, an average writer, an amateur painter and a consultant by profession. I also did my mechanical engineering and MBA to earn my bread. If you liked my thoughts and images please do comment

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