Generation Y

Generation Y

A lot of research have been done about Generation Y, but is this Generation so different than the others? In fact, every 30 years a new generation replaces the previous one and this is due to social, economic and technological changes.

I would like to explain an example to help you clarify my point of view. When either our grandparents or our parents were young, the introduction of firstly the telephone and much later the television generated a big impact for marketers in those different decades. So, marketers reacted, studied and assumed that customers’ insights had changed just because a technological advance. At that precise moment, it was a tremendous shock for everyone because some products, brands or services needed to be automatically modified and others had to disappear because they had become obsolete.

As far as the writer’s opinion is concerned, I agree that Generation Y is much more complex than the boomers generation. As he says, Internet has made a difference and currently customization is more than a reality. Moreover, at 18 years old, students have 5 year plans, so they are already looking at how they will be balancing their work/family commitments. For the great majority of marketers, these changes could suppose a difficult problem to solve but for some others -the good ones- these changes are opportunities to anticipate and develop proactive strategies to be the first movers and, as a result, win the commitment of their existing and potential customers.

As the article mentions, Tommy Hilfiger took advantage of its ability to adapt to changes and reached the top position in the US jeans market.

"When Hilfiger's distinctive logo-laden shirts and jackets starting showing up on urban rappers in the early '90s, the company started sending researchers into music clubs to see how this influential group wore the styles. It bolstered its traditional mass-media ads with unusual promotions, from giving free clothing to stars on VH1 and MTV to a recent deal with Miramax Film Corp., in which teen film actors will appear in Hilfiger ads. Knowing its customers' passion for computer games, it sponsored a Nintendo competition and installed Nintendo terminals in its stores. Generation Y consumers have rewarded that attentiveness by making Hilfiger jeans their Nº 1 brand in a recent American Express Co.survey."

If I try to compare Generation Y in Spain with Generation Y here in the US, I don’t appreciate any difference. Although we have different cultures, our insights are more or less the same. We use Internet for everything, we wear similar clothes and we like the same kind of music. Therefore, once you know a Generation Y consumer, you know everyone which is very important because we are the largest generation since the boomers and that means we are an irresistible target for marketers.

To sum up, I would like to include myself among the typical members of the Generation Y, not only because I was born in 1986, but also because I am proud of it. Actually; I think almost everyone of us –young people- act the same way. Of course I use new technologies to communicate with others, I play computer games or I disapprove traditional ways of doing marketing.

Welcome to my blog!!

Hi everybody!

My name is David. I am from Barcelona. My major in Spain is finance but in fact I am taking Management and Marketing courses here in UT. This is my last year at Univerity so I will probably finish my degree here in the USA.

David Valls