Yume Inc.: The Influence Of Millennials

Today’s marketer must take into consideration many generational differences when considering a marketing strategy for a product. Most products are intended for a massive audience, requiring the marketer to utilize an integrated marketing scheme to encompass all generations.

People of Generation X are very easy to be reached through many different strategies. On the Avalon Peninsula, there are many different places to buy toothpaste like grocery stores, retail stores, and convenience stores. For example, in the Bay Roberts- Carbonear area, there is three Powell’s Supermarkets, two Dominions, two Foodlands, two Shopper’s Drug Marts and one Wal-Mart. Hence, there are lots of consumer opportunities to buy toothpaste. They can also be reached by advertisements, the use of email, appealing to their financial responsibility, and appealing to their values. (“Stuck in the Middle: Marketing to Generation X”, 2015)

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

Aggressive online advertising and similar campaigns will be effective in attracting the millennial generation. Subtle changes to the product shape, logo and symbols will ensure that the traditional base is not alienated while the millennial generation is brought into the fold. This approach will also serve to differentiate Kraft Singles from competitors. It will be a product designed for millennials and the older generation. The implementation of this plan could however prove expensive, up to double the cost it would take to implement the other alternatives.

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.

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

Roughly 25 percent of Boomers, or 20 million of the generation's 80 million members, are expected to possess what life-stage expert Geoff Meredith terms an "age accepting" mentality by 2008. This is anticipated to spur the rise of more realistic marketing images aimed at the generation, which continues to be overlooked in fashion ad campaigns that cater mostly to young shoppers. Indeed, he observed, "Baby Boomers look at today's ads and say 'That's not me."'

Many employers are challenged with handling the millennial due to the lack of proper understanding of this generation since there is plenty of myths, propagated through anecdotes and assumptions. However the separation of the myths and the facts is important for an organization so as

Blades’ article discusses how Aflac took a survey of millennials in Atlanta and the result they got was astonishing. Every generation before millennials describes millennials

When trying to understand why marketers have chosen to increasingly focus their attention on teenagers, three key points point to the answer. First, advertisers have increasing access to the market demographic. Secondly, the demographic shows continuing growth. And third, the demographic demonstrates a steady growth in their influence over spending. As Keith Niedermeier, Wharton visiting professor of marketing and panel moderator at the “What Teens Want” conference stated, "Teens are an enormously important segment because they are disproportionately powerful in terms of being trend setters and early adopters” (http://knowledge.wharton.upenn.edu)

According to Coke and its ad agency company Oglivy, the two commonly interested parties discovered that 50% of teens and young adults had not even tasted a Coke. As an advertiser, that is an alarming statistic, since young adults are the future generation in regards to opportunity; consequently, that statistic coincide with that fact that Coke has a 50% chance of existing in the next generation or future. Effective advertising campaigns make consumers feel invited to be apart of specific brands, and it was evident Coke had flopped at that vital element over the past few years. Coke and Oglivvy dedicated an entire campaign to the younger generation by ways of emotional branding strategy. Furthermore, Coke and Oglivvy unveiled the genius marketing

The characteristics of the millennial generation mentioned above affect the beliefs of the generation itself and how others perceive this demographic group from

This group of people is viewed as vulnerable, old, lonely, and poor. Ingrained in the culture these perceptions are false and are causing marketers to miss out on an abundant target group. “Why are perceptions so far off? Why have we failed to set the record straight? Why does our advertising continue to show old people as ancient, twisted, limping people in wheelchairs with canes, wrinkled and covered with gray hair, or no hair at all? Is this why marketers have ignored the emerging mature markets? There is an obvious marketing opportunity here for us” (Leventhal, 1997). An effective marketing communication message to baby boomers explains how the product meets their needs. Baby boomers are not interested in the latest fashions or technology. They are not appealed to something because it shiny and new. Baby boomers need time to make a purchase decision. A mature consumer needs facts and data to convince them of a purchase. Flashy gimmicks and peer pressure may work on younger generations, but baby boomers are not sold with these tactics.

Back to the 70’s the biggest campaign was using sodas, like 7UP's "Un-Cola”, Coca-Cola and Pepsi. We also see more advertisement on television and marketing teams looking at trends to see how and why such campaigns worked and which were flops. Moving into the 80’s and 90’s we see that computers are slowly starting taking over advertisement. It isn’t until the 2000’s when we start to see more and more marketing strategies and in the 2010’s we see that platforms such as Google, YouTube, Facebook, and Twitter start to influence and branch out to different

Advertising agencies today are confronted with the ever-evolving nature of technology and new applications that are continually being devised. Traditional advertising methods such as billboards, newspapers, magazines, radio and even broadcast television advertising are becoming less effective due to the significant increase in the number of platforms for getting messages to target audiences. In my essay I will discuss the challenges that the digitalization of communications has had on advertising agencies and its effects on consumers, the media and brands, with examples of how these companies are overcoming these problems to solve their clients’ brand or business issues.