MILLENNIAL GENERATION - THE MOST INFLUENTIAL CUSTOMER OF THE FUTUREJournal: Economic Profile (Vol.14, No. 19)
Publication Date: 2019-12-25
Authors : Lia Genelidze; Tea Valishvili;
Page : 68-84
Keywords : Generation Theory; Millenium Generation; Values; Brand; loyalty;
Generational relationships, their views, similarities and differences has always been an interesting topic, this time we will discuss all of this in marketing and will characterize the generation that is the most influential in the 21st century. In order to be able to communicate effectively with their clients, business representatives must take into account the differences between different generations. Otherwise, companies and brands will be at risk of losing customer loyalty, especially with millennials. The topic is about exploring the Millennial Generation as the most influential generation and the future user's desires, views, attitudes and actions that are of great interest to any company or enterprise in marketing point, since this generation represents a large group and now the fortune of many companies depends on the desires. We'll get acquaint Millennials as a free and innovative generation who are always ready to be the focus. We will discuss the role and impact of technology and social networks on their lives. In addition, you will find the research conducted by the USA advertising agency “Moosylvania”, about Millennials attitude towards brands, conclusions about what is needed to get this generation's attention, what do they expect from companies and how do they become their friends. In Georgia The survey included 180 Georgian Millennials. We used quantitative research, depend on questionnaire of JWT Intelligence. The results are compared to foreign millennials, where is a great similarity despite the national differences. The percentage of millennials in almost all countries is similar (27-30%). Based on the received information, we have created a special profile for Georgian Millennials, where we described all the important characteristics ranging from education to personal relationships. Many clear diagrams or charts are used in the topic, which can be taken into account, both in practical and theoretical terms, by any marketer or person who is interested by this topic. The work in the Georgian scientific space is a novelty that interests not only young people, but also representatives of other generations. Like their peers around the world, Georgian millennials are more optimistic, uniquely nimble and have the entrepreneurial ability, they are easy to use technologies and naturally civic minded. Despite the fact, that millennials are inclined to spend, most of them agree that spending wisely is more important than earning lot of money. They are used to express their opinion about any topic on social media, they are active and always online. Internet is the main space for them to learn, shop, get new information and even have friends. Millennials feel a responsibility to leave better living conditions for future generations. They are committed to taking responsibility for creating a better environment, taking care of, protecting and living in a better world. Finally, we can say that the Millennials are not only the largest generation in the history of mankind, but also a kind of social group that allows for generalization.
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