Consumer Research and Promotional Message
Marketing Research and Promotional Message
PSY/322
March 3, 2014
Crabtree
Marketing Research and Promotional Message
This paper will focus on the research and promotional message of teenaged consumers in today’s social market. The current generation of teenagers is referred to as Generation Y or Millennial and is a large portion of the consumer market that attracts companies in gaining large profits. In 2001, according to the National Consumers League (2013), teenagers purchased approximately $172 billion dollars. This generation is described as having the following attitudes and beliefs, they are “tech-savvy: prefers media based communication, family centric: prioritize family over work, achievement oriented: confident and ambitious, team oriented: loyal, committed, involved, inclusive, and attention craving: seeks feedback, guidance, and mentoring (Kane, n.d.). The manner in which Generation Y views their world has a significant impact on the psychology behind their purchasing decisions. In being able to define the wants and needs of this generation, marketers will enhance their profit.
Generation Y teenagers form a significant consumer group more than ever in today’s society. This teen group has become one of the fastest growing markets and they are greatly influenced by their social setting and environment. This generation was born into the cutting and competition edge of technology. Therefore, technological innovations systems keep Generation Y immersed in an insatiable state of want and need for social interaction and communication, information, and stimulus. In today’s economy, “these teenagers are an easily identifiable market, they are eager to buy, able to spend, are easily reached” (Schiffman, Kanuk & Wisenblit, 2010). From the teenager’s perspective cost is a non-issue given that their parents purchase the items they need, there is no discretionary on purchasing as do their parents. Research and marketing teams identify that
PSY/322
March 3, 2014
Crabtree
Marketing Research and Promotional Message
This paper will focus on the research and promotional message of teenaged consumers in today’s social market. The current generation of teenagers is referred to as Generation Y or Millennial and is a large portion of the consumer market that attracts companies in gaining large profits. In 2001, according to the National Consumers League (2013), teenagers purchased approximately $172 billion dollars. This generation is described as having the following attitudes and beliefs, they are “tech-savvy: prefers media based communication, family centric: prioritize family over work, achievement oriented: confident and ambitious, team oriented: loyal, committed, involved, inclusive, and attention craving: seeks feedback, guidance, and mentoring (Kane, n.d.). The manner in which Generation Y views their world has a significant impact on the psychology behind their purchasing decisions. In being able to define the wants and needs of this generation, marketers will enhance their profit.
Generation Y teenagers form a significant consumer group more than ever in today’s society. This teen group has become one of the fastest growing markets and they are greatly influenced by their social setting and environment. This generation was born into the cutting and competition edge of technology. Therefore, technological innovations systems keep Generation Y immersed in an insatiable state of want and need for social interaction and communication, information, and stimulus. In today’s economy, “these teenagers are an easily identifiable market, they are eager to buy, able to spend, are easily reached” (Schiffman, Kanuk & Wisenblit, 2010). From the teenager’s perspective cost is a non-issue given that their parents purchase the items they need, there is no discretionary on purchasing as do their parents. Research and marketing teams identify that