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Targeting Generation Y

Targeting Generation Y . And the Winthrop Student Dr. Cara Peters. Who is Gen Y?. Born: 1981-1995 57 Million + Mirror birth rates of baby boomer parents Population bulge AKA: Echo Boomers, Millennium Generation. Who is Gen Y cont. Largest Consumer Group in US History

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Targeting Generation Y

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  1. Targeting Generation Y And the Winthrop Student Dr. Cara Peters

  2. Who is Gen Y? • Born: 1981-1995 • 57 Million + • Mirror birth rates of baby boomer parents • Population bulge • AKA: Echo Boomers, Millennium Generation

  3. Who is Gen Y cont. • Largest Consumer Group in US History • $211 Billion annual income • 15-24: $12,800, up 18% since 1985 • Spends $172 Billion per year • Young adult segment spends $61.2 Billion • Future Market for Most Brands

  4. Different from Previous Gens • More racially diverse • 1 of 3 is not Caucasian • 17% are Hispanic • 1 of 4 lives in single parent household • 3 of 4 have working mothers

  5. Different cont. • Well experienced with computers • Cannot imagine life without technology • Grown up in media savvy, brand conscious world • Cynical and practical world view

  6. Different cont. • More of this generation going directly to college • Decline in labor force participation • Median income for college grad: $42,000 • Non-college grad: $26,000 • Increased college debt • Average balance of Senior is $17,000 • Increased credit card debt • 54% have credit card • Average balance of Senior is $3200

  7. Different cont. • More likely to own homes at age 25 • 33.5% of income spent on housing • Buddy-buying phenomenon • Most medicated generation ever • 25% take one prescription per month • Obesity problem • 54% considered overweight

  8. Different cont. • Spend 40% of pre-tax income on personal care products • $334 per year on these products • Growth among men in this generation

  9. Technology Presence • Video games (1980s) • Internet (1995) • Cell phones (1990s) • Digital Cameras (1990s) • DVD players (1997) • MP3 players (1998) • Tivo (1999)

  10. Gen Y Media Preferences • Internet • Instant messaging • Blogs • Film sites like Albinoblacksheep • School resources

  11. Gen Y Media Preferences • Hip Hop • versus Rock and Roll • Adult oriented media • SouthPark, The O. C., The Daily Show • Cult Films • Napolean Dynamite

  12. Marketing to Gen Y • Shrug off big brands • Embrace hip newcomers • Respond to ads differently • Put messages where they congregate • Prefer ads that are funny or disarmingly direct • Arizona Jeans: Just Show Me the Jeans • Want customization

  13. Marketing to Gen Y • Technology/Internet is medium of choice • Drives diversity • Campaigns that work are subtle, local • Street teams, grassroots • Outdoor posters, skateboard magazines • Prefer more sleek designs • Present the hip without air of commercialism

  14. The Winthrop Student • 6,600 students on campus • 36 undergraduate degrees • 25 graduate degrees • 100 fields of study

  15. The Winthrop Student • Student/Faculty ratio of 15:1 • 42 States represented • 25% from York County, SC • Out of state 15.2%

  16. The Winthrop Student • 44 Countries represented • Out of country 2.1% • Female/Male ratio of 2:1 • Minorities represent 35% of population

  17. The Winthrop Student • 65% have financial aid or scholarship help • 63% have a car • 34% live on campus

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