Swot Analysis Of Millennials

This target market is outgoing, fluent in English, and highly value conscious3. They reside in urban areas with higher population densities and educational institutions. In terms of market segmentation, these young adults are the innovators and early adopters of new products and services. On a daily basis, being exposed to thousands of different messages makes them proactive and more aware of the world. They are heavily impacted by popular culture and being technologically savvy allows them to share their experiences on social media4.

Ultimately, millennials are a complex demographic with key differences influenced by life

Another thing about this particular generation is that they are technology savvy. While things like the internet were not around when they were little, the older they got, the more technology as a whole grew. The internet came along as well as television. They have become starving for information. Therefore, when it comes to marketing, the best place to do this is on the internet and also on television advertisements. They do also enjoy reading the newspaper, so taking out portions of those would be beneficial. Making sure that there is as much information as possible about a particular service or product available is vital. If there is something that they see or want, they will do their research on it

Howe, Neil, and William Strauss. Millennials Rising: the Next Great Generation. New York: Vintage, 2000.

One specific competitive advantage Macy 's holds over Nordstrom 's is its target demographic. While Nordstrom 's focuses mainly on career moms between the ages of 35 and 50, Macy 's recently launched "Millennial strategy" states that its merchandise areas primarily serve ages 19-30. The millennial generation (ages 13-30) is now America 's largest and most diverse generation, spending an estimated $65 billion each year for the type of merchandise sold at Macy 's. A much larger demographic gives Macy 's a competitive advantage.

Shifting demographics: Millennials have emerged as the most populous generation in the United States. As this group’s disposable income rises, industry operators will increasingly cater their services to attract these individuals. Millennials are

Vanguard is using blogs and social media channels, including Twitter, YouTube, and Facebook, to provide a forum for like-minded investors and promote investor education. Vanguard uses Twitter to share news and views with a diverse audience, including clients, finance bloggers, traditional media, advisors, and investors. Vanguard’s Facebook page offers personal finance tips, Vanguard news, links to market commentary from experts, and fun activities such as trivia and polls

Strengths Millennials are hailed as “digital natives” (Prensky, 2001). In contrast, “digital immigrants” are people who arrived online after having a substantial life offline. Prensky states that baby boomers and even some members of Generation X are digital immigrants. Burstein (2013) who is himself a millennial explained his early connection to technology this way: “As first and second graders, we could write reports with a word processing program and spell check them” (page 52). Burstein continues: “Through our formative years, however, digital technology began to make quantum leaps almost daily in the variety and extent of applications and functions, as well as user access and mobility” (page 53).

To market to this audience, one should focus on mobile marketing. 85% of millennials in the U.S. own smartphones (http://www.nielsen.com/us/en/insights/news/2014/mobile-millennials-over-85-percent-of-generation-y-owns-smartphones.html) and by creating pages on social media platforms one can target this audience with deals, events, and information. This will also allow one

First, a good target market would be the “Baby Boomer” generation. This generation’s age demographic falls into the 45-64 year range which makes up about 30% of internet usage in the United States. With the rise of smart phone technology, even the Baby Boomers are catching on to the trend. Roughly about 15% of smart phone users are over 55 years old and with the

Retailers and designers often find a specific target group to appeal to, and four out of five retailers attribute 50% of their sales to Baby Boomers (Business

Millennials tend to be technologically advanced and eager to learn. They also value social responsibility and team-work. They are often seen as impatient and quick to express opinions without having all of the data. Millennials are quick to jump-ship if they do not feel if they are progressing fast enough, often at speeds that might be seen as unreasonable. Dayan (2005) says that about 5.6 million Millennials are about to enter the employment market. Millennials are said to be the most challenging generation for employers.

i believe i am a funny person in general, so people tend to be easy around me and not feel uncomfortable if they do not know me.

target market. Their age is usually greater than 45, and they are married couples that own a

According to recent research, Millennials (75.5 million) have edged out the Baby Boomers (74.9 million), who are retiring, as the fastest growing group in the United States, with Generation X lagging behind (66 million) (Fry, 2016). By the year 2020, Millennials will account for half of the workforce and their impact on the economic is contingent upon how the economy is doing at that time (Shin, 2015). The Education Testing Service found although Millennials are receiving more education than any other generational group, they may lose their competitive edge against international peers (Twaronite, 2015).