Generation X or baby busters is commonly applied to those born in the 1960’s to the early 1980’s. These types of people are seen by the marketing industry as very hard to market to as they prefer products not to be over commercialised as this is very off-putting to them. The people in this generation are those who have been affected by the recession which took place in the 1900’s.
The reason why marketers still focus on this age group is because they have a high flexible income. “Busters in their twenties have an estimated annual spending power of $125 billion” (Solomon, Pg 440).This market share is those who are most commonly at work and have a family to support therefore marketers consider these greatly when targeting product. Specific markets which target people from this generation include cosmetics, beer and fast foods. The reason is that at this age particularly women tend to care about their skin and how they look and therefore tend to buy cosmetic products to help them. The majority of people in this age group are at work and therefore rely on fast food or ready made meals to feed themselves and family. Those people in this age group who are single, in particular men largely consume beer therefore this is a key product which is marketed to this group.
However some negative factors are that although marketers focus products to this age range, they may be less likely to spend as they are also the age that are most commonly saving for homes or paying back loans/debts.
Here are some adverts aimed at this age range:
Generation Y are those who are born between the years 1978- 1999. This age group are those who have not yet settled down, either in fulltime education or still trying to settle down in a career path. The majority of this age range focus on brands as being very important to them.This age group is more flexible with where they spend their money and are more advanced with the modern world. One area in which they focus on spending in particular is the technological market. They are easier to reach through modern digital marketing as they are constantly using the internet.
Although they spend a lot of money one negative factors is they are restricted with the amount they have to spend as they are less likely to receive loans and if they do, the amount they receive would be very basic depending on what their job is.
Here are some adverts targeted at this audience:
I also found a useful video on youtube about marketing to generation Y
References:
- Consumer behaviour: A European perspective: Fourth Edition:2010 Michael R.Solomon, Gary Bamossy, Soren askegaard, Margaret K. Hogg
Good work
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