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Annie Referral consuming fashion - Essay Example

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Annie Referral consuming fashion

Furthermore, Gen Y can be also be identified as the group of those people who believe in continuous education in order to see themselves as a successful professional in the desired sector, whether corporate or social. Rather, this particular group is learnt to focus more on their professional life and functions (Taylor & Keeter, 2010). Based on these assumptions, the discussion henceforth intends to state the demographic and psychographic characteristics of Gen Y as the niche customer group taking into account the group’s various lifestyle behaviours. It also aims at understanding the motivation and buying behaviours of the group along with identifying the opportunities and challenges faced by the marketers while targeting Gen Y in relation to the various promotional aspects. The Demographics & Psychographics of the Gen Y Group Demographic Characteristics From a generalised perspective, it can be affirmed that the demographic and psychographic characteristics behaviour imposes strong influences over the currently prevailing market trends from various dimensions, such as demand for products and promotional needs which further acts as the determining factors towards the accomplishment of the desired objectives. With reference to the context, it can be assumed that to a certain extent, companies in the market attempt to target a particular Gen before launching the intended products which again tend to have a significant impression on the efficiencies of the planned strategies as observed in the case of Gen Y (Zhang & Harden, 2012). The demographic characteristics are the information which states about the locales including their number, age, sex and socio-cultural values within a specific area according to which, the nation and the organisation attempts to consider planning actions and functions responding to the preferences of the individuals and groups (University of Wisconsin, 2007). With reference to the demographic characteristics of Gen Y it can be stated that the increasing number of Millennial is continuously acquiring a major proportion of the world population in the current scenario. The rising nature of Gen Y population also demands for education and employment opportunities, therefore facilitating globalisation by a large extent. As a result, governmental bodies and other professionals should think about the rising circumstances, in order to serve the Gen Y customers with their requirements (Mitsis & Foley, 2011). Psychographic Characteristics The psychographic characteristics can be further defined as the process of using the demographic information in order to study and determine the attitudes, values, lifestyles and buying behaviours of individuals and groups as a whole. These characteristics of individuals and groups are also measured through the feedbacks obtained from the customers end by the companies. Consequentially, the company could be able to design its products in order to satisfy the consumers’ ...Show more

Summary

Annie Referral Consuming Fashion Table of Contents Introduction 3 The Demographics & Psychographics of the Gen Y Group 4 Demographic Characteristics 4 Psychographic Characteristics 5 The Lifestyle Behaviour of Gen Y Consumer Group 5 The Key Motivations and Buying Behaviour 7 Future Opportunities and Challenges from a Marketing and Promotional Aspect to Your Consumers 9 Conclusion 11 References 12 Introduction Generation Y or Gen Y, which is also noted as the Millennial, indicates the group that is presently inclined towards changing the form of globalisation with innovative ideas and modern technologies…
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