Understanding Generational Differences Objectives Explain how Generational groups

Understanding Generational Differences

Objectives Explain how Generational groups are formed Identify different Generational groups in the market place Describe how knowledge about Generations impacts Marketing, i. e. Target Market and Marketing Mix

What is a Generation? A cohort of individuals regarded as having common cultural or social characteristics.

Generations at Work - 2011 Traditionalist (Silent Generation) Born 1922 - 1945 Baby Boomers Born 1946 - 1964 Generation X Born 1965 -1980 Millennial (Gen. Y, Nexters) Born 1981 – 2001 Generation Z Born 2002 - ?

Shared Events? What are the shared events that occurred during each generation’s impressionable years. That is our childhood and teenage years. Headlines Leadership Cultural Events

What Shaped You? Ø National Events Ø Music Ø Technology Ø Values Ø Relationships Ø Parental Expectations Ø Other?

Workplace Dynamics Ø “Is he really committed to this job” Ø “I need balance in my personal and professional life” Ø “Are we really having another meeting this week” Ø “I can’t believe the way he/she dresses” Ø “I never get recognized for my work” Ø “What do you mean I can’t work from home on Friday’s”

Consumer differences? Aversion to debt? High spending? Low savings? Aversion to Advertising?