Hello, I’m Marianne Tenenbaum, Branding Strategist, for Once a Day Marketing™. Today we are
discussing characteristics of the Millennial’s market segment.
The market
place is made up of numerous types of consumers. These markets are segmented by demographics
(who they are) and psychographics (what they are all about). Among the many ways to describe the various
market segments is by generation: Baby Boomers, Gen X, Gen Y or Millennials. We have written in previous blogs about how
to appeal to Millennials, here we are taking a look at who they are as a
group.
The
Washington Post recently published a wonderful infographic regarding the
Millennial Generation. Here are some
facts and figures that should provide insight into how to tailor your marketing
to this group which is larger than the Baby Boomers in size and has $200B in
annual spending power:
- First digital natives
- Communicate with others about products/services via online platforms
- Encumbered with debt
- Have less money to spend
- Greater numbers than ever live at home; many ready to buy their own
- Waiting longer to marry and start families
- Interested in access rather than ownership (think Zipcar)
Just as with
other market segments, when you consider crafting a marketing message to reach
Millennials, consider how your product or service relates to the
characteristics above. Also, review
opportunities to create products or services that fill a need based on these
factors and will appeal to Millennials.
Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. Contact
Marianne Tenenbaum at (505) 699-7849 or email mten@onceadaymarketing.com.
Listen to Ask Those Branding
Guys™ every Monday at 11:00am (MDT) streaming live on SantaFe.com KVSF
101.5 FM.
© 2015 Once a Day Marketing™. All rights reserved.
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