Research on the following 5 generations in the market place
Research on the following 5 generations in the market place: you need to know who these people are and what they need and and later on you will learn what you need to do to get their attention toward your product/s or services based on their needs. Between what years they were born? what is the differences between all these generations? for example: generation Y is much into the texting and internet than Baby Boomers. Generation y prefer to shop online. what does each generation most need in the market?
The reason of this research:
Each generation has unique expectations, experiences, generational history, lifestyles and different expectation from the sellers. Different
values, and demographics that influence their buying behaviors. Accordingly, many companies
are reaching out to multi-generational consumers and trying to understand and gain the attention
of these diverse buyers. Multi-generational marketing is the practice of appealing to the unique needs and behaviors of individuals within more than one specific generational group, with a generation being a group of individuals born and living about the same time. This means that
marketers need to understand the six generations: Pre-Depression Generation, Depression Generation, Baby Boomers, Generation X, Generation Y, and Generation Z. When a marketer
factors in the different characteristics and behaviors of the generations, it should be easier to build relationships, gain trust, and close business. As such, an understanding of multigenerational marketing is very important to the marketer. The purpose of this research paper is to
describe briefly the U.S. generations in terms of the times in which they grew up as well as the
characteristics, lifestyles, and attitudes toward the market.
However, later on we will use this research to describe various marketing understandings and strategies appropriate to each generation’s characteristics and behaviors, particularly in terms of segmentation, products and services, and how we need to communicate with each generation to be able to sell and have a highest market share. Good luck to all.
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