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Custom Market Segment Paper on Generation Y essay paper sample

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Introduction

Generation Y refers to the age group of working persons in the recent past. If truth be told, the term generation Y is somewhat of a stereotype to the current age of youth in the society. Common stereotypes include obesity, rebellion, drug and alcohol abuse and/or rudeness and no respect for the older generation. A blogger on a site discussing this phenomenon lamented “I disagree with the notion that everyone from generation Y is self-absorbed, vapid and rude. I agree some people are, but we aren't all, like, totally from Clueless.” Many may perceive generation Y as rude, because we question and don't always comply as easily as previous generation had.” This is an adequate example of the views held by many youth in the Y generation around the globe.

While a good number of persons born within this age bracket could possess these traits, it is biased to make such a gross generalization on them. A number of names are also common when referring to this group of people i.e. millennia’s, Gen Y and Trophy generation. In context, this group of people was born 1976-2000 and is therefore the biggest population of today’s working world. What is definite about this group is that they are the new age kids. They were born during the inception of the internet and all other technological advancements (Jayson, 2006). The younger persons in the Generation y are probably the most exposed group of people in this day and age of Twitter, Facebook, My Space and many other social networking sites. This group is also extremely familiar with other devices like cell phones, IPods and TV stations that the generation that came before them would not even be able to comprehend at their age (Tulgan and Martin, 2001).

A lot of negative press has also been surrounded with the definition of Generation Y. A survey released three years ago names 60 minutes illustrated some false generalizations that they saw fit to associate with the Y generation. The film depicted these young adults being lazy, uneducated, over pampered by their parent, highest number of school drop out, unreligious and substance abusers (Mayo, Savage and Cray, 2006). This report saw worldwide reactions of outrage and utter disbelief. Many youngsters in this group defended themselves against these allegations by saying that their age has seen many youth take up even summer jobs to ensure that their lives do not waste away during the holidays. The charges against the Y generation were somehow reduced when other studies revealed that this group is the only one that has witnessed terrible occurrences like the 9/11 attacks, random gang and even school shootouts, a terrible global recession, the US debt, decline of the workforce and ultimate unemployment and most of all a high rate of divorce. This generation has had to face such challenges in the age where all are against them and think that they are “pampered.” According to Mayo, Cray and Savage (2006), regardless of all these issues, this new age of people have plunged head first into all dynamics of life be it sports, education, religion, family, military and governance etc.

Generation Y, has proved competent by staying at the top of the technological food chain ultimately causing the older generation to be downsized. They are an age of people who are quick to learn new things and embrace new ideas which make them to attractive to the working world. In addition, this new age is often non racial as they take pleasure in being in collaborative settings such as schools, clubs and other liberal institutions (Jayson, 2006). It is without a doubt that the older generation is what has cultivated an era or racism, racial profiling and prejudice. The Y generation will no doubt join the world into the global village that it really is (Tulgan and Martin, 2001). The frequent use of this term began in 1993 in an Ad Age editorial where the writer was trying to define and analyze the youth of today. The term generation y alludes to the maturity from generation x, which most people understand as the age in which their parents are born.

Scholars and intellectuals alike have argued that this concept of moving from generation to generation is a phenomenon that is evolving. According to Howe and Strauss (2001), these two argue that there exists only four distinct generations that only evolve after 100 years. They note that we in particular exist in the 3rd age which is characterized by individualism and rebellion against convention. The other three generations are as follows. The first: a new age established that throws out the former, the second is a transition and growth from the previous age. Though people somewhat rebel, they are still grounded solidly on a number of principles. In the third age, persons are in an age of finding themselves and doing away with societal expectations. This is the age in which we currently are. Every one has a heightened state of individualism and uniqueness. The fourth stage is an attempt to reorganize and restructure the chaos caused by the previous age. As mentioned, this last age does not last long as it is often done away with to secure a new age, and the cycle repeats itself.

As an employee of Cache, I have recognized that advertisers commonly aim for this group of people as they are the highest consumers of new age products, such as the clothes sold at Cache. Also they are often targeted due to their familiarity with new age products thus are able to provide a wider market. Their population of over 76 million and in the United States only is also a factor that makes them popular with advertisers. When one turns on the TV and sees a commercial, it is often characterized by a young person, probably in their twenties and wearing very skimpy clothes. The Generation Y has clearly been represented at Cache clothing. Cache clothing is a clothing line based in New York City in America. Though it is no Luis vuitton, Cache provides high end, classy and chic clothes to customers who are mostly in their youth and have a tighter budget to work with. According to the information on the website, Cache provides young girls with a yearning to be fashionable yet comfortable a good opportunity with their wide variety of stylish garments such as jeans, t-shirts, dresses and a range of other accessories to choose from. The Cache website also provides tips and styles for girls to choose from illustrated by beautiful model who add that sparkle to the garments.

Going by what is seen on the Cache website, it is without a doubt that the clothes advertised are targeted at the younger age bracket of the youth, mostly Millennia’s born after 1980. The models themselves look like persons within this age bracket and undoubtedly connect with their audience on this level. Companies like Cache have embraced new marketing strategies that assist the m in garnering the attention of this tremendous client base. First things first, Cache in particular understands that marketing is the most fundamental aspect of expanding markets and clientele. Firstly by creating a website where buyers can easily access information regarding the company has proved greatly beneficial for many companies (Gelb, 2006). The sites like Cache’s should provide avenues that the Y generation market can connect with the idea, like the models on the walls could greatly entice the buyers.

According to Gelb (2006) another brilliant strategy would be to connect these sites with other social networking sites such as Facebook and Twitter which are wonderful avenues for marketing, not only are they free but they are available to a wider market as they encompass the entire globe. Therefore, companies seeking to reach a Y generation market can effectively use these sites as a marketing strategy. In addition, leveraging the emotions of the consumers to the product is mandatory/ not only should the consumer connect with the product physically but also emotionally. Many corporations work on getting their customers to love their product and this can no doubt work for any other corporation (Preston, 2010). For instance, certain ad campaigns show a person undergoing a transformation after using their product. This is a clever marketing strategy but it is important to ensure that the results are credible; lying to the customer just to in crease sales is a poor strategy that fails in the end.

An extra line of action would be to set a deadline and ensure that it is kept. In context, this would refer to setting a date in which the products would be out of stock. Knowing the current generation, they would probably rush to get a product, lest they be left behind from the “cool” crowd. All in all, create a realistic date where customers would comfortably get access to the item regardless of the time stipulation. A final strategy would be to overcome your objections by satisfying the customer even before they have walked into the store. By providing warranties, discounts and the ability to return the product if it doesn’t fit entices the generation Y customer to keep coming back (Preston, 2010). In conclusion, though there has been a lot of propaganda and hearsay regarding the issue of generations, it is certain that the Y generation has been a notable entity to the entire human race, be their effect good or bad.

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