The Emergence of Generation Y - Research Paper Example

Task: Detailed Research Proposal The emergence of generation Y due to technological advancement has caused enormous changes in the advertisement field. Notably, it has made many advertisement media think outside the box in order to devise the best way to attract attention of the dynamic population. Consequently, the population offers a challenge to manufacturing firms which have to adapt technologically to the changing taste and preferences. In this regards the enormous research is being conducted to modulate the best technique to satisfy the population from an advertisement perspective, not forgetting the preeminent approach of convincing various companies to advertise for the generation. Introduction Generation Y is gradually replacing the baby boomers at a high rate - a factor that has grappled many people. They have changed the whole world making things at a totally different manner passing the boomers known as echo boomers; the exact origin of the term remains unidentified. The millennial generation was born in a period from 1982 to 2001. Contrary to generation X, generation Y change with varying brands and offer trust to institutions and authority. Consequently, they remain connected with technological advancements mainly using the social media for various commitments. Notably, generation Y is exceedingly careful to tread in the footsteps of their parents and forefathers, such as those social trends of divorce and separation. It is this regards that the generation use tactics of delayed marriages with only the fortunate marrying at an early age (Ferguson and Brohaugh 80). According to statistics, 67% of generation Y have access to Facebook and make updates on consistent individuals from either their smart phones or their technological advanced devices. The number of students owning phones and electronic devices in generation Y remains high and is modulating gradually. As due to the emergence in technology 59% of students visit Facebook during class time a factor that is different from the generation X, which had respect for various class activities. In addition, due to the advancement in technology 75% of generation Y uploads photos through mobile phones with an 80% of the same people using successive electronic devices simultaneously. For instance, they watch TV using their phones at the same time. To further trigger surprise, 93% of teens have access and ownership desktop, as well as laptops, with others accessing the internet through their phones. This, therefore, proves the advancement in technology that generation Y enjoys. Apart from using Facebook, 40% of generation Y makes use of Pandora, as 38 percent proved they could not stay for long without confirming the presence of their devices by accessing the internet. Because of these, generation Y proves to be the most problematic and challenging to advertisement media as they cannot get a grasp of the population. For instance, an advertisement that concentrates on calls would not be fruitful as 75% of generation Y sends over 20 text messages in a day. How then do we advertise for this generation and ensure a competitive yield in any service offered? This question remains a problem among many advertisement media as they convince various companies on a means of reaching the generation. The aim of this research proposal, therefore, is to find various ways and means companies can employ to convince their customers of advertisement as a service. Objectives The objective of the research is to come up with the best way of convincing various companies to use certain advertising mediums. Some of the questions that remain key ones include the common websites, as well as social network used by generation Y and convenient approach to satisfying both customers and the people who receive the advertisements. Literature review Current youth carries technology in their back pockets creating a tipsy generation also known as the millennium generation. They have blatant power and blustering potential to either make a business prosper or cause a business failure. It is in this regards that keen attention gets geared towards the generation as careful treatment and observation lads into immense success (Ferguson and Brohaugh 80). Generation Y remains connected to the internet following everything through various websites such as blog, MySpace and twitter. When pressed to a corner based on various decisions, they rebel confusing confusion while at the same time making misguiding decisions. It, therefore, is an explosive crowd having a non-predictable recipe that proves difficult to create. Consequently, creating an effective marketing strategy proves difficult as the group keeps increasing with time. Currently, generation Y comprises over 80 million people with an estimated increase in the near future. According to demographers generation Y share distinct characteristics including; Reducing interest in traditional media High level of technology Savvy Tendency to brush aside the brands used by their parent and grand parents These factors remain challenging to even creative marketers forcing many marketers to think out of the box. It is in this regards that a comprehensive framework remains a viable option in order to assure various companies of returns. There are various considerations, which any advertisement firm can employ to convince customers of prosperity. Notably, they have to build a well-laid structure of countering all the dynamic trends employed by generation Y. technological companies can do various things to gain trust of their customers. First, they have to create a buzz liked mainly by generation Y. This is because, the social nature of young adults focuses on real events and not word of mouth. The firms, therefore, should create engaging advertisements in conversation and other sites (Dietz 173). This includes organizing Facebook contests, posting viral videos, as well as staging live events that attract generation Y. By doing this, more generation Y occupants get attracted to join the mass and thereby convincing customers of the prospectus in their investments. Consequently, the company can create advertisements that meet generation Y in their own tuff. Statistics shows that 95% of generation Y own mobile phones with corresponding 70% owning laptops (Ferguson and Brohaugh 81). Consequently, the advertisement company can connect with the exact root causes. For instance, the Walden university report shows generation Y stand still in social media a factor that calls for creation of social sites, which suite the generation. Seventy percent of people compliment as having gotten information from their friends; therefore, using a strategy that enables spreading of information through people. The strategy should be passionate to the brands of generation Y, as this will attract more people. Consequently, respect for knowledge plays a significant role in maintaining the cordial relationship of attracting advertisement. This is because generation posses the highest level of education and overlooking such an aspect brings inconvenience. The strategy, therefore, should lay a technology savvy in social nature that even allows volunteer activities. In addition, the strategy should employ relevant questions that do not pose discrimination to the generation. In as much as they should not be pampered, it is noteworthy that respects get accorded appropriately. This maintains the relationship between the generation and various advertising agencies hence convincing companies who use the advertisements media (Diego and Suman 45). Methodology A company such as Tom’s shoes is among generation Y because they maintain contact with their consumers by giving back to them as they consume. It, therefore, is true to ascertain that the generation enjoys getting what they give and additional. It is in this regards that a comprehensive method of research gets used in order to ensure all field gets captured. In order for the advertising company to maintain and attract advertisers, various methodologies get used to come up with an appropriate method. One on one interview for instance is an approach that can be used in obtaining relevant information from the generation. This method of research gets used in both the consumers, which are generation Y as well as the main advertising agencies who are aspiring to use the diverse mediums of advertisements (Cheng, Peijian and Zhe Qu, 50). Face-to-face interviews assists in getting direct feedback from the respondents while a record gets kept for later improvements. Since generation, Y is always hasty face-to-face interviews get conducted in various localities including breaks from jobs as well as classes. It is pertinent to note that the generation gives non-formal information; therefore, keenness remains the best method of finding their demands. For instance, if out of one thousand respondents eight hundred support a given means of advisements, then the techniques should be used in the advisement medium (Durvasula and Lysonski 240). This helps in maintaining consumers while at the same time attracting their loyalty and hence convincing diverse companies to use the given medium. Notably, the interviews should concentrate direct answers such as the most sites used by the respondents as well as places where they like to spend their time. Apart from the direct one on one survey, online questionnaires sent through various mediums can also be used to find the most appropriate medium for advertisement. Findings Authenticity remains truthful according to generation Y. Consequently; the generation believes that information is power; hence, they use every means to access the information. Consequently, the generation believes in union attitude, where all the information gets endorsed by friends before the implementing. It is also evident that the group roams in social sites like Facebook and my space in an attempt to quench their high thirst. Generation Y remains the most democratic generation in retaining and acquiring what they need. It is in this light that various successful companies have established given characteristics that are common among the generation. For instance, the generation requires Fast service Cheap cost Good quality Experience Activating the mixture to obtain the mix proves difficult; however, a company that qualifies in finding the right recipe always enjoys benefits from the generation. For example, companies such as Apple, Trader Joes, Jones Soda, Mountain Dew, Red Bull and Jet Blue have employed the same technique and realized their investments. An advertisement medium, therefore, should consider the four factors while designing an advertisement strategy. The generation spends over 200 billion dollars annually and as such as serious marketing mechanism remains appropriate. They can do anything and remain nothing creating the largest percentage of the work force (Durvasula and Lysonski 238). Consequently, they create a power and a pool that if not checked can cause a market surge. It is also evident that the generation relies heavily on the word of mouth from their friends as well as various social sites. The advertisement medium, therefore, should be engaged in various social sites in order to convince various advertisement stakeholders to use their service. Subsequently, the advertisement media should concentrate on engaging various member of the generation as they find intriguing while engaged in various sites. The advertisement firm should therefore optimize nits’ sites to fit the application that allows constant updates and chats online. Notably, the poser to convince advertisement companies relies on the ability to capture loyal and real generation Y who spend money and not fair weather patterns that are only engaged and follow the footsteps of others. Since, the generation gets compared to a market, which is a noisy place, it is essential to turn the volume up as this attracts that attention. When any advisements medium provides reliable information with respect the generation is also likely to return the favor with best critics. Consequently, paying attention to any grievances remains the most significant activity in the process of providing efficient and effective advertisement strategy that convinces various advertisement companies. Discussion and conclusion To conclude, it has to be said that generation Y relies more on information from trusted sources, including that from friends. Consequently, they have collaborative technology savvy allowing them to have an all round network access. It is in this regards that an advertisement strategy should provide conclusive, as well as exclusive, information with key priorities being videos, pictures, sneak peak new products (Durvasula and Lysonski 235). The advertisement strategy should also include world issues including political environment while at the same time creating emphasis-rotating consumption. Consequently, the advertisement strategy should include technological access such as mobile advertisement. When all these factors get into consideration before designing an advertisement strategy, no doubt will remain in the minds of people who want to advertise hence signing the contracts. Recommendations In order to ensure a successful persuasion of various companies for advertisement contracts various factors need to be taken into consideration. First, the advertising media need to develop websites and social site pages. The pages should conform to response from various interviewees as well as provide attractive and conspicuous features that retain many people. Consequently, the company should come with flexible advertisement measures that allow them to advertise not only in their websites, but also in other social sites such as Facebook. This increases trust on the advertisement company thereby not only gaining the competitive advantage, but also more contracts. 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Levitz, James. “Pitching 401(k) to Generation Y is a Tough Sell,” Wall Street Journal, 27 September, 2006. Print. Mehta, Sabrin and Yu Ma Chinhao. “A Multicategory Model of Consumers’ Purchase Incidence, Quantity, and Brand Choice Decisions: Methodological Issues and Implications on Promotional Decisions” Journal of Marketing Research 49.4 (2012): 234-240. Web. 3 Sept 2012. Read More