Sunday, February 28, 2010

GENERATIONAL MARKETING

I love studying about Generation Marketing.. I the principles and concepts when marketing or speaking to specific target group. You have to know their generation to find out what moves them.

The method of marketing to a specific generation is affecting the way that we promote and sell products and services. We are all a product of our generation. Each generation have their own characterestics, because of this as a marketing target we can usually categorize by generations by the way that we act and speak as well as our belief systems.
There are four popular generational categories that most marketers tend to focus on.

They include:
Millenials or Generation 2001ers, born after 1980
Generation Xers born between 1965 and 1980
Baby Boomers born between 1946 and 1964
Mature Citizens born between 1909 and 1945

In order to market effectively to a generation you must find a way to grab their attention, by using a message that resonates with them. Generational determined lifestyles and social values exercise as much influence on buying and purchasing as more commonly understood demographic factors like income, education, and gender do--perhaps even more.

To succeed in generation marketing you must understand how the motivation of your consumers correlate with the underlying values of their generation. When you know this you are able to customize your message to cater to the generation when it comes to your products and services. You can then present the message with your products, services, and communication to their needs and desires.

Of course, every generation ultimately will pass through the same life stages, from youth to old age. As the younger generations find their place in society as consumers, employees and parents, it becomes more and more important for businesses to acknowledge this soon-to-be-powerful demographic. Build brand loyalty with them now, and you may reap the results for the rest of their lives.

If you have not already explored generation marketing, perhaps it's time to visit this method of marketing as part of your own marketing and advertising mix.

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