Thursday, 20 October 2011

Generation X and no not the 1990s T.V. Show

Generation X is a period of time between 1965-1975, just after the end of the baby boomer period. Generation X is the off spring of the first baby boomers. Generation X is “perhaps the most overlooked generation, falling in the shadow of the powerful baby-boom generation” (Wilson, 2009, para. 6).

I am generation Y, but generation X is very different then me, but not just by time either. Generation X has a high education level and is highly aware of economic problems and due to this “like to save money” (Wilson, 2009, para. 6).

Generation X is the least marketed generation. This generation is very technologically savvy, and they like to save their money. This generation lives and breathes facts; you will not sell them a product without telling them all the facts. Their generation mostly has a very rational buying habit and is traditionally not brand loyal. They want to know what your product is and why it is a good value for them. Generation X is a very flexible generation (Bachler, 2008).

Out of all the generations, generation X is the most racially, ethnically, and culturally diverse than previous generations (Bachler, 2008). The challenge this poses is that marketers have to come up with new products and ways to market to the ethnical and culturally diverse population. As for me I’m generation Y and I don’t like to save money and as for marketing preference I love witty and imaginative outside of the box advertisement.

A chunk of this blog was part of a report I did for my media and cultures class and I thought why do I need to know this and how is this relevant to me. After thinking about it I realized that it is important because if I become a marketer this generation plus my own will be my target market. The report that I did taught me how to break down a target market and learn their needs and wants.

With the right knowledge and marketing strategies, the world’s wallet is in your hand.

These are some websites I looked at.

Bachler, C. (2009). How to Market to Gen X and Gen Y. Home Business Magazine.

Wilson, E. (2009). Know Your Target Market. Entrepreneur Media, Inc.

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