Date: ‘The Marketing Generational Gap’ Introduction Today’s generation, or Generation Y as most marketing people call it, is less susceptible to the traditional advertising mediums even though they are still very much branding conscious…
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Previous Knowledge With the increase in communication between the Generation Y through social networking and the internet, word-of-mouth has greatly changed the marketing and advertising landscape. Television is fast becoming an obsolete advertising medium for Generation Y. Thus, Marketers have to evolve their practices of market segmentation and targeting in order to develop a brand or a campaign that is accepted by Generation Y. Methodology I plan to discuss the changes in advertising medium and the changes that marketing teams have to make in order to cater to Generation Y. Genre 1: Blog The following blog provides a good insight to marketers regarding the psyche of Generation Y and advertising tactics that marketers could consider: Summer Lovin' For Gen Y with Live Concerts and Mobile Marketing We (referring to the audience in general or specifically potential marketers) all know that no demographic is changing as quickly as the coveted Gen Y demographic. We also know that for a growing number of brands, they're the segment that is not only the most important, but also the most difficult to engage. But what marketers may not know is that experiential marketing is the best and surest way to reach this elusive set, especially this summer. Between concert festivals, outdoor sporting events, travel and the general excitement that comes from being "out for summer," the coming months are the perfect time for marketers to get out and about themselves, engaging with these consumers face-to-face. Gen Y now numbers more than 60 million. They're around town, leveraging social media and taking control of every second of their lives and most importantly they are on mobile. This summer they'll tune into whatever they want as easily as they'll tune it out. As a result, brand marketers around the world are retuning how they go to market. There are some interesting stats from a recently conducted a survey with the Event Marketing Institute, surveying several thousand Gen Y consumers. The results are surprising and would help to shape marketing plans as marketers try to reach this elusive demographic. 94% of Gen Y consumers say they would be more likely to buy a product as a result of a good experience at an event. Think about it. If someone went to a concert for an up-and-coming pop star and left wanting more, they would be more likely to buy her CD or download her single, right? But creating that "good experience" is no easy task MillerCoors understands this and is ramping up mobile at every turn. Gen Y'ers is the first generation that has grown up with the internet as a normal part of everyday life and now the web is in their hands 24/7. In fact, almost half of those surveyed have posted something (a photo, a status update, a Tweet) from or during an event. Because of this proliferation of technology, Gen Y presents a different set of challenges for marketers. Marketers in all brand categories need to plan campaigns that connect with consumers, whether they're live or on mobile or both at the same time, and the experiences have to reach consumers' minds. Clearly, marketing to Gen Y is still a tough audience to completely crack. To succeed, marketers need a new rulebook. Here are four rules for ensuring experiences make the critical connection to the Gen Y consumer: Let them in. And we mean all the way in. It is common knowledge that savvy brands use experiential marketing to create ongoing dialogues with consumers. What one might not know is that those conversations now give
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