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Gen Y Sits on Top of Consumer Food Chain

Gen Y Sits on Top of Consumer Food Chain. Lesley Martin Dominic Scrima. Summary. Generation Y : born between 1982-2000 82 million Larger population than Baby Boomers High disposable income Changing Parent-Child Relationship Influence family decision making Extremely brand conscious

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Gen Y Sits on Top of Consumer Food Chain

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  1. Gen Y Sits on Top of Consumer Food Chain Lesley Martin Dominic Scrima

  2. Summary • Generation Y: born between 1982-2000 • 82 million • Larger population than Baby Boomers • High disposable income • Changing Parent-Child Relationship • Influence family decision making • Extremely brand conscious • Affects marketing

  3. Changing Parent-Child Relationship • Parents of Gen Y have “friend” relationship with their kids • Gen Y influence parents’ purchasing decisions • Gen Y live with parents longer • http://www.youtube.com/watch?v=TdK8Y_fXpq8 • Gen Y has sense of entitlement • Need immediate gratification • Only allow a website 3 seconds to load before renegade

  4. Gen Y Picky Preferences • Gen Y prefers elite or cheap, not moderate! • Not good to be in the middle • Customizable brands • Elite • Cheap • Forever 21 • Thrift stores • eBay

  5. Relation to Class • Gen Y interprets brand/website seamlessly • Less forgiving of errors • Satisfactory store and website experience essential to success • “Moderate” brands - where do they fit in? • Gen Y prefers elite or cheap • Marketing targets Gen Y • Gen Y pressures Gen X/Baby Boomers

  6. Discussion • How have you influenced the purchasing decisions of your parents? • Should marketers target Baby Boomers/Gen X through Gen Y?

  7. Works Cited • http://www.youtube.com/watch?v=TdK8Y_fXpq8 • http://www.youtube.com/watch?v=GlPnbMspaDc

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