The Consumer Behavior Of Millennials Aiu Mktg 405 Essay

1026 words - 5 pages

Running head: MILLENNIALS 1
Susan Baze
Unit 5 IP
The Millennial generation, also known as Generation Y, consists of the offspring of the notorious Baby Boomers. The consumer group they make up is perhaps the most important consumer group for any business. This consumer group is estimated to spend in excess of $200 Billion in the year 2017. This generation has been stereotyped as self-centered, disrespectful, and lazy. However, the fact is they are the consumer group with the most education, and they are more racially and ethnically diverse than any generation we have ever seen. Combine this with their great knowledge and dependence on technology and you get a consumer group unlike any that have come before.
Millennials are classified as the consumer group born between the year 1976 and the year 1995, which means as of 2015 they are between the ages of 20 and 39, and currently make up over 25% of the U.S. population. While only around 21% of Millennials are married, they tend to reside in a household which includes parents or other family members. Millennials are highly educated with nearly 1 in 4 having earned a Bachelor’s Degree or higher. In addition to being the most educated generation, Millennials are also the most racially diverse generation, consisting of 19% Hispanic, 14% African-American, and 5% Asian. Millennials have an average yearly income ranging from $25K to $48K. Millennials are not largely religious they account for 1 of every 5 same-sex couples. Millennials tend to prefer to live in an urban environment, with the largest percentage being in the Western United States (MarketingCharts, 2014).
Looking at Millennials from a psychographic point of view, they are great team players who place great importance in family. This consumer group has a great deal of appreciation ad respect for authority. Millennials have high hopes for their future. This generation is extremely comfortable with technology and often depend on it for weather, news, current events, and social interactions. Millennials constantly seek social approval ad advice for their everyday actions and decisions (Get Busy Media, 2014).
The consumer group referred to as Millennials often hit life’s milestones at a later age than other consumer groups. On average 62% of today’s Millennials have never been married. A large portion, 19% of this consumer group are full or part time students, perusing a degree. This large number of Millennials continuing their education may be a factor in only 58% of Millennials being homeowners, while 37% are still renting on a month-to-month basis (Experian, 2014).
Role of Sub-Culture on Consumer Behavior
A subculture is defined as a group of people who closely share similar values, attitudes, and purchasing decisions even more so than within the broader culture. So by definition Millennials are part of a sub-culture. Millennials as a group see thi...


Questions pertaining to the assignment of analyzing the website Cardswap and how effective it is - Consumer Behavior TWU - Assignment

642 words - 3 pages [gift] card’s value” (Hunter, 2018), bringing in more revenue for the retailer. 2. What is the value of gift cards to consumers? Is the Consumers' Association of Canada correct in saying that there is no value to the consumer? Gift cards can be a good way for consumers to earn extra bonuses. There are retailers such as Kroger that allows customers to earn 4-5x as many fuel points on their purchases of gift cards. There are also retailers that offer

Reflection about the consumer behaviour - University of Liverpool/ Marketing - Assignment

1214 words - 5 pages Module Code: ULMS 795 Module Leader: Matthews Paul Module Code:ULMS 795 Module Title: Consumer Behaviour Tutor Name: Matthews Paul Title: The reflection about the differences in traditional customs between China and Britain Student Name: Lishan Luo (201281240) Date of Submission: 16/03/2018 Word count: 958 Module Code: ULMS 795 Module Leader: Matthews Paul 1 In order to satisfy the needs and desires, there is a process for individuals or groups

Marketing Research Shapes Consumer Needs And Wants Versus Marketing Research Merely Reflects The Needs And Wants Of Consumers

251 words - 2 pages Market research begins with premise that information plays a critical role in the success or failure of organizations. I believe marketing research shapes consumer needs and wants. Every business has the same goals. We all want to improve customer service, deliver more value to our customers, and find new customers without spending a fortune on marketing. Marketing research can help us reach these goals or it can be a complete waste of money. It

Summary Report 1, comparing if college is worth the cost or not - Worcester State Consumer Economics - Essay

681 words - 3 pages Free TJ Mulgrew Consumer Economics 2/8/19 Summary Report 1: Cost and Benefits of College One of the biggest questions in today’s economy with the rising price to attend college is will going to college be the smart thing to do? There are arguments both ways for this question, but the overwhelming statistics and evidence prove that even with the increase going to college is clearly worth it. In this paper I will attempt to prove, through data and

A Study On The Internet Browsing Behavior Of Senior Filipino High School Students

2071 words - 9 pages I.Profile of RespondentsOur topic is inclined with the browsing behavior of 4th year high school students. With that, we requested seniors from random different schools such as Saint Jude Catholic School, Philippine Cultural High School, Grace Christian High School and the like to answer an online survey regarding their purpose of using the web and their corresponding browsing behaviors.We took 30 samples from the whole population and equalized

Describe how the endocrine system affect behavior? - Saber college / Intro to psychology 14 edition - Essay

450 words - 2 pages Course: PSY 1000 Theme: Modulo 2 Discussion Instructor: Alexandra Lis Student: Alain Marichal Describe how the endocrine system affect behavior? Explain The endocrine system sends chemical messages called hormones, and hormones effect on behavior, the endocrine glands works as a chemical communication system within the body, the flow of hormones from the endocrine glands entering the bloodstream affect behavior, personality, and moods; Many of

Organizational behavior is the study and application of knowledge about how people, individuals, and groups act in organizations

437 words - 2 pages Organizational behavior is the study and application of knowledge about how people, individuals, and groups act in organizations. The purpose of such study is to help internal incorporation, bring employees from all levels of the company closer together, and boost their performance. Employees are what make up an organization or a company. A company must run successfully; therefore, the employees have to work well together. People work

Othello- analysis of speech by Iago taken from Act 2 Scene 3 occurs just after the brawl between Cassio and Montano, where Othello is disgusted with his lieutenant's behavior and dismisses Cassio

505 words - 3 pages English SpeechThis vital speech by Iago taken from Act 2 Scene 3 occurs just after the brawl between Cassio and Montano, where Othello is disgusted with his lieutenant's behavior and dismisses Cassio. From the beginning Iago behaves in this way because of his intense jealousy he has at Othello for promoting Cassio over him.His motivation develops further due to jealousy of both Cassio and Othello, and their happiness. These projections of hate

Positive and Negative Consequence of Legal Euthanasia - Florida Institute of Technology/Human Behavior Perspectives - Essay

765 words - 4 pages Running head: Effects of Euthanasia 1 Effects of Euthanasia 8 The Positive and Negative Effects of Euthanasia Yasmina S. Davis Florida Institute of Technology Keywords: doctor-assisted suicide, euthanasia, consequences, positive effects The Positive and Negative Effects of Euthanasia As humans, we have basic rights like freedom from discrimination, freedom from slavery, or the right to life, liberty, and personal security. But what about the

Decision-Making And The Impact Of Work-Related Stress On Organizational Behavior

763 words - 4 pages Free Decision MakingWhat is decision-making? Decision-making is a process that has been derived from reasoning. It is a process that uses such methods a brainstorming, benchmarking, mind mapping and flow-charts to reach a decision. Decision-making follows a series of 6-8 steps to identify, evaluate and solve a problem. It also includes a method to evaluate the final decision and measure the impact of that decision.Decision-making is central to human

Causes of the Fall of Rome Essay - World History - Essay

466 words - 2 pages Fall of Rome Essay Rome started out as a small growing economy which later turned to a large powerful country that was ran by an Emperor. Rome had one of the largest world-wide religions as they prayed and worshipped gods. Rome was also well-known for its architecture and studies in math, science, and engineering. However, since Rome had a high system of education and beliefs, Rome became overpopulated to the points its borders were spilling out

Analysis essay of the darling - English 101

1086 words - 5 pages . Her dad was a very smart man who taught her the importance of life and how to live but she never really did because she was too busy accepting her husband’s thoughts and not advancing her own. This type of behavior restricted her from growing. In the 19th century, women could not do a lot in the country. They were stooped to a low standard of being an ideal housewife. Their role would include cooking and cleaning and taking care of the kids while

The Ethic of Animal Experimentation - English - Essay

563 words - 3 pages The Ethic of Animal Experimentation The Ethic of Animal Experimentation Josie Giles Union High School Author Note Josie N. Giles, Freshman at Union High School. Josie participates in Travel and Art Club Abstract Every day, millions and millions of mice, dogs, cats, rabbits, die as a result of animal testing. Testing on animals should be eliminated for various reasons. The first and main reason is that animal testing is cruel. The second reason

Analysis of the judicial system - English - Essay

807 words - 4 pages Baadal Patel 8/14/18 Essay In the novel, ​Just Mercy​, Bryan Stevenson writes about his account of being a legal advocate aiding people with false convictions and cruel sentences. The story portrays multiple situations that people are facing but the fundamental storyline is Stevenson’s organganzation, EGI, and his relationship with Walter McMillan. Walter is an African American man who is wrongfully convicted of murder due to the racism and

Tinder, the cause of the dating apocalypse? - University of San Francisco and Rhet 110 - Essay

1202 words - 5 pages Free of my roommates’ privacy, their names in this essay are Erin and Zoe. Erin hasn’t had much romantic experience, Zoe has been in a committed long distance relationship, and I have been exploring. Society expects a “college girl” to act a certain way, back in the day women in college were seen as husband chasers and today it’s all about sexual liberation in the form of hookups. College is a time for us to find ourselves and figure out our own future