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Case Study Assignment #3 Marketing 1101Dominic CaminitiPart One: Generational CharacteristicsThe two additional characteristic that I chose were health and housing.CHARACTERISTICBaby BoomersBorn 1946-1964Generation XBorn 1965-1976Generation Y/MillennialsBorn 1977 – 19981. Market Size75.8 million people67.9 Million76.3 Million2. Average HH Size 1/3 of the U.S.population¼ of the U.S.population¼ of the U.S.population3. Average HH IncomeSpend on average$46,160 on livingexpenses. They have percapita an average of$8000 to spend annually.Make on average$12,000 more than itsparents’. Although, theyhave far less wealth.Fewer than 50% of genX in every incomebracket are wealthierthan their parents at thesame age. Mostly dueto the declining savingsrates and lower returnson assets. Gen Y are least to haveaccumulated reserves.They are aware thatthey are without asafety net. Debt is anissue too. 2/3 ofcollege students startout with student loandebt averaging$19,200.4. Relationship to Technology41% of Boomersregularly visit socialmedia. 61% visitwebsites that offerstreaming ordownloadable videos.Much less than X and YThey use technology butonly because of howconvenient it is. A lotmore than babyboomers. Growing up in a worldsurrounded bytechnology. 90% ofGen Y check emails,texts and social mediabefore even gettingout of bed. 5. Relationship to Family & Friends“Individual freedom”70% more likely tobelieve that the mainpurpose of marriage ismutual happiness andfulfillment. Spend less time withtheir parents thanprevious generations ofchildren have. Gen Y were raised byparents who believedthat successfulparenting involvedboosting young egos,and maxing quality
time. 6. Relationship to Work & WorkplaceExtremely hardworkingand motivated byposition, perks andprestige. Want high quality andresults, productivity,balance, flexible hours,free agents, ethnicdiversity.Technically savvy andoptimistic. Highexpectations. 7. Print Media Preferences (Be specific)TV and NewspaperTV, Newspaper, video ondemand services. 26%more likely to have usethe internet to watch tv.