Generation Y - The Millenials -

Since I began to take marketing classes in the business school, it seems that we have been drilled by this Generation Y concept. Every class that I’ve taken mentions it in some sort or another. This in itself suggests the importance of my generation. Even before doing any of the readings or listening to the podcast, I had some ideas of Generation Y. We touched on many of the ideas as we were discussing the Recording Industry in class today. I realized that the consumer that we were describing, this new consumer is Generation Y. We want things customized because we want to be individuals. When we need things, we want them right away. We want music on demand, video on demand, and food on demand. I then went on to read the article posted on e-reserves. I found it quite amusing because it was a bit dated and therefore didn’t touch on much that has happened over the past couple of years. Rather it discussed the beginning of the switch of Baby Boomer marketing to Generation Y marketing. It touched on a lot of points that I found very relevant to me. We aren’t interested in the same boring commercials as our parents. Due to the way we access information, we’re more inclined to have products advertised to us in more “hip” ways. We respond well to viral marketing because it doesn’t feel like the company is trying to sell us anything. As to companies not adapting, well I’m not exactly sure if this is a problem. I understand that consumers will become brand loyal, but I also see it that we will not grow up continuing to purchase the same products. For example, they discussed these jeans called Pipes which were large pants with a lot of pockets. While these pants will be popular with this age group for the time being, it won’t be long before these customers mature and begin to use the products that are for more mature individuals. I say this because like all other individuals in this class, I am about to enter a stage in my life of which I will be entering the professional world. I don’t see that I’ll continue to purchase and dress in brands such as Hollister Company, Abercrombie and Fitch, and American Eagle. This type of clothing won’t be the norm in the professional world. Therefore, I see what is happening as a small gap. Yes, these companies that are very popular with the baby boomers are experiencing a slump, but unless these new brands that are appealing to Generation Y adapt to the aging of Generation Y, they will be nothing more than a fad.

The podcast was very interesting because it directly applied to my everyday life. While I’m not consumed by MySpace, I do find the things she said directly applying to Facebook as well, another social networking site. She was spot on by saying that people don’t usually add random younger or older people, but rather friends, or friends of friends on the website. She also discussed its addictiveness. This is very true; I would bet that every individual in class has a Facebook website, and those that don’t would be seen as socially deviant from the norm. People post pictures, blogs, status updates, and it has become a way to keep up with friends in distant places. In fact, Facebook and MySpace have even become verbs. When at bars downtown, it's not uncommon to hear people telling one another, "here's my name, Facebook me", or "Facebook that picture". Even now, couples who are dating don't become official until it has become a "Facebook official" relationship. The power of the social networking site is unbelievable. It has destroyed college careers because of its addictiveness. It has destroyed relationships because of the transparency it shines on different people.+

Companies have already begun to advertise on Facebook, even President Barack Obama used Facebook as a tool to reach to the younger voters. If I was a marketer, I would find ways to use the tools and networking sites that Generation Y users are using and tap into creative ways to market to them. For example, YouTube, MySpace, and Facebook would be great places to get viral marketing started. However, it has to be creative because if we know we're being sold to, we won't be responsive. As the article stated, we need things that are funny or not ordinary so that we can feel a connection to the ad. I believe that just as its important to adapt the marketing strategies to Generation Y, it is also important to consider that this Generation will age soon, and therefore new adaptations will have to be made.