Question

Define Generation X and Generation Y and one example for each on how they can impact marketing strategies.

Answer 1

Generation X can be defined as the generation that is born after the generation of baby boomers. The generation X has birth ranging from early to mid 1960s to early 1980s.

Generation Y can be defined as the generation that is born after generation X. The generation Y has birth ranging from 1980s and 1990s. They are mainly the children of baby boomers.

Example of how Generation X can impact marketing strategies – Generation X is generally disaffected and tends to be directionless. Thus Generation X requires marketing strategies that have to be authentic as well as transparent. The intention of companies should be clear and straightforward in the marketing strategies being used by them.

Example of how Generation Y can impact marketing strategies – Generation Y is more focused on materialistic values. As such the impact of this generation on marketing strategies is that they have forced companies to focus more on extrinsic value of the products and services in their marketing campaigns. The marketing campaigns focused on Generation Y is less focused on intrinsic values of products and services and more focused om extrinsic values and materialistic aspects of consumption.