CASE STUDY REPORT Essay Example

  • Category:
    Business
  • Document type:
    Assignment
  • Level:
    Undergraduate
  • Page:
    2
  • Words:
    892

CASE STUDY REPORT

Generation Y is one of the extreme generations that marketers have had to analyze each and every time to try and meet their demands. Growing up in a normal family with fewer divorce rates and a steady income, they have had to struggle less as the financial crises have not impacted them much. This generation has also benefited from being educated and the opportunity to make their own decisions based on their personal abilities. From the high friendship connection around them this generation has had to develop a lot of interest into the social media in choosing the right trend that fits them other than watching television and other traditional forms of marketing (Sandhusen, 2000). This has posed the greatest challenge to marketers as they have to improve from their old forms of marketing and embrace use of technology in a way to meet the demands of generation Y. to further ease the channel of communication between the marketers and generation Y they have to embrace exposure as a consumer behavior theory. This is increasing the consumer’s consciousness and impression towards the brand being marketed. Consumers are likely bound to take a brand that they have mostly seen on television or magazines as they tend to believe it is a better product than the rest. Marketers targeting Generation Y need to embrace the use of social media mostly to expose and showcase their products as it will receive a lot of traffic than using television. This will improve communication between the marketers and Generation Y as they will be able to directly chat on the social media as they inquire on the products and services being offered (Khsola, 2010).

Generation Y continuously live with their parents for long as they fear taking responsibility and find everything they need at home free rather than living alone and having to buy them. With time they find themselves living with their parents for long until they become adults. This is an adverse effect as their buying behavior becomes influenced by their parents’ tastes and preferences. They also have to make decisions which do not directly or indirectly affect their parents making their choices and preferences not to be what they want or expect. This in the long run is a social effect as they live to make their parents happy and not themselves (Kuester, 2012).

This generation has posed a great challenge to the employers as they change jobs continuously seeking more financial gain and social status than they hold or can maintain. Employers need to study these trends in a way to retain them at their work places. One of the factors they need to embrace is the theory of social status as explained in consumer behavior. Employers need to establish simpler employee relations and avoid the traditional rigid structures. This will improve the way employees relate and thereby attracting them to their work places. To better hold them for long, employer’s need to add incentives like mortgages and car loans to their work packages as this is the most vulnerable group in the community and the desire to be recognized is highly resistible. The employers also have the task to develop more short term jobs which can accommodate this group as the long term jobs will be losing popularity. They also need to embrace the high labor turn over rather than pleading with this group to change (J Scott, 1991).

Growing up in a background of multitasking both in the social media and entertainment, this generation has grown to be tireless and bored as they seek to invent and find the ‘next big thing’ on the globe. This has made them the least brand loyal group in the community. Their urge to advance and increase their financial gain within the shortest time possible is one of the reasons why they have had to be least loyal. They have also put their career advancement first more than their jobs hence making their attachment to their jobs a pass by.

From not being loyal to their brands, to not living to their expectations, Generation Y has been faced with a lot of challenges as they grow older. One of the challenges they face is the numerous debts that they have acquired from their current lifestyles. This is the only group that has spent more than they earn hence making their educational and personal debts a liability as they enter the workforce. This being a long term effect, they have not changed their characters to start working harder and invest in the common assets like cars and houses. This generation needs to learn collective consciousness as a model of consumer behavior as it will nurture them to become more conscious about what they do. Collective consciousness is a state of mind to wake up and conceive strategies to make one advance in his activities. Generation Y needs to realize their dreams and wake up to invest and permanently leave their parental homes to establish their own families.

Reference List

J Scott, A 1991. ‘Prediction of Consumer Behavior by Experts and Novices’. Journal of Consumer

Research Inc: (18) 251-256

Kuester, S 2012. Strategic marketing & Marketing in Specific Industry Contexts. University of

Mannheim.

Khsola, S 2010. Consumer Psychology: ‘The Essence of marketing’ International Journal of

Educational Administration: 2(2): 220-220

Sandhusen, R 2000. Marketing. NY