Term Paper on "Buyer Behavior and Sales Promotion"
Term Paper 3 pages (1075 words) Sources: 1+
[EXCERPT] . . . .
Buyer Behavior and Sales PromotionMARKETING TO GENERATION Y
Generation Y refers to all the youth born in the 80s and 90s. However some include those born in the late 70s i.e. 1978 onwards to date. Mostly Generation Y refers to the people who are born between 1977 and 1994. There has been no official consensus on the matter of dates and who all to include and who to exclude from the definition of Generation Y or as at times knows as "Generation Why" or the Echo Boomer generation (Wikipedia). The previous generation, known as Generation X was much different types of consumers as compared to Generation Y, whose ideology is purely to buy. They exhibit a culture of consumerism and their behavior and nature is much different than the previous generations. Hence marketing to Generation Y includes the analysis of their choices and marketing for products in an appealing way to ensure maximum consumerism.
The buyer behavior has changed considerably with Generation Y and image is not the top priority with them these days. They are highly influenced by rock bands, rappers, celebrities and sports figures. Teens that are highly conscious about the new trend make full use of the media including the internet to get an insight of what's new and what's in. They check for the latest fashions, services and products and aim to get them as soon as possible. Being influenced by sports celebrities, many advertisers have used these figures in the promotion of their products. "Over the years, advertisers have paid famous athletes millions of dollars to endorse their products" (Alan J. Bush et al., p.108). Although Generation Y does shop online, they however prefer going to stor
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The positioning in the mass is highly important if the product is to be sold to the Generation Y "Positioning is a perceptual location. It's where your product or service fits into the marketplace. Effective positioning puts you first in line in the minds of potential customers" (Jan Welborn-Nichols). The environment in which Generation Y have grown up in has been a media oriented one and thus they can detect ploys right away. This would ruin the organization's reputation and positioning in their sights and they will avoid their products always. Generation Y will opt for products that have a standing and positioning. They do not want out dated products or products by companies who are not known, or have a bad reputation as far as their product line is concerned. Therefore it is important for organizations to have a positive review regarding their products in the media and it is essential for them to back up their claims. "Marketing to Generation Y is not simply selling them what they are buying today; it is about establishing your brand so that they will buy tomorrow" (Jim Meskauskas).
It is also vital for an organization to segment each market and analyze and profile to… READ MORE
Quoted Instructions for "Buyer Behavior and Sales Promotion" Assignment:
“TOPIC: Marketing to Generation Y.
QUESTIONS:
1. Define the topic above.
2. Identify and expand on three major topic headings related to the course materials.( Marketing related such as: buyer behavior, positioning, and segmentation and targeting)
3. Provide a personal opinion regarding the present and future focus on this topic relative to buyer behavior or sales promotional concepts.
4. Strong summary and conclusion.
The ***** of this essay should answer the "QUESTIONS" based on the "TOPIC" in the following order, #1 first, #2, #3 and then #4.
And the sources material should no older than year 2003.
Thank you so much
Arif Sunjoto
How to Reference "Buyer Behavior and Sales Promotion" Term Paper in a Bibliography
“Buyer Behavior and Sales Promotion.” A1-TermPaper.com, 2005, https://www.a1-termpaper.com/topics/essay/buyer-behavior-sales-promotion/544496. Accessed 5 Oct 2024.
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