Article Review - Research Paper Example

Jessica Rixom Type here MAR 4503 – U02 the write-up is submitted RE: Marketers Are Sizing Up the MillennialsIntroductionThe article title Marketers Are Sizing Up the Millennials describes the efforts made by marketers to target the Millennials. The Millennials denote a group of young adults born between the 1980s and early 2000s who have different priorities and unpredictable spending patterns. It is approximated that by 2020, the Millennials will form the greatest percentage of the population.

This explains why marketers need to understand their spending patterns and their consumer behavior in an effort to target them. The Millennials group is compared to the baby boomers generation, which emerged in the late 1940s and caused a change of corporate strategies in the global (Searcey). Analysis and CritiqueThe article highlights that the millennial group has been slowly surpassing the baby boomers and it currently defines the largest age group. Prior to the emergence of the millennial, many businesses focused on understanding the behaviors of baby boomers in an effort to launch products that suited their needs.

The Millennials’ group seems to have entirely different spending patterns and consumer behaviors. This compels businesses to develop new strategies that match the new consumer model. Notably, the millennial have grown up to face challenging economic times that have contributed to their consumer behaviors. They are not focused on making big purchases such as houses and cars. Most of them still live with their parents, and they have not adopted a life of independence. Businesses are struggling to understand the unpredictability of this group who have a high level of education, but with new consumer behavioral patterns.

Although the group is currently facing financial challenges resulting from the economic recession, future projections indicate that they are likely to control the economy in the future (Searcey). This is one reason why marketers are interested in understanding their consumer behavior. Relevance of the ArticleThe article is relevant to modern marketers who seek to understand the consumer behavior in an effort to determine the type of products launched into the market. There has been an evident confusion experienced by many companies who wish to target the Millennials, but do not have a clear understanding of their consumer behavior.

This article presents critical information to marketers in the modern day and in the future. The article succeeds in highlighting the salient need for further research in understanding the consumer behavior of the Millennials group. It serves to place emphasis on the need for companies to understand how the Millennials group will shape the economy in the future. Although the article does not highlight how companies can understand the millennial spending patterns, it presents critical information to marketers (Searcey).

ConclusionEvidently, the article discusses the Millennials group, which is likely to shape the economy in the next few years. Since this age group has the highest level of education, and has a unique set of priorities, marketers are compelled to be more creative and strategic as they address the needs of this group. The information is critical for the practitioners of consumer behavior because it highlights the basis of the new consumer model, which companies should have in mind as they release new products into the market.

Practitioners of consumer behavior can embark on further research in an effort to understand the group’s consumer behavior and define the new consumer model.Work CitedSearcey, Dionne. "Marketers Sizing Up the Millennials." New York Times 22 Aug. 2014: B1. Regional Business News. Web. 13 Nov. 2014.