Case 3.docx - Part 1 Generational Characteristics CHARACTERISTIC 1 Market Size(3 2 Average HH Size 3 Average HH Income Generation Y Millennials Baby

Case 3.docx - Part 1 Generational Characteristics...

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Part 1: Generational Characteristics CHARACTERISTIC Baby Boomers Born 1946-1964 Generation X Born 1965-1976 Generation Y/ Millennials Born 1977 – 1998 1. Market Size ( 3 ) $2.76 trillion $2.43 trillion $1.44 trillion 2. Average HH Size 3. Average HH Income ( 10 ) $58,626-$66,411 $63,629 $30,604-$51,381 4. Relationship to Technology Did not grow up with technology. Acquired technology as they got older and used it as a productivity tool. ( 1 ) More on par with technology adoption and use than Boomers Email, cell phones, desktops ( 2 ) Used as a tool for connectivity ( 1 ) Smartphones, tablets, online dating, social media ( 2 ) 5. Relationship to Family & Friends Drop in marriage rate & rise in divorce rate First generation to balance care for children with care for parents ( 7 ) "Latchkey kids" Many grew up with both parents working or in single parent household Married later than Boomers Majority are married and have children ( 5 ) Grew up with parental support and encouragement. Marrying late or not at all ( 6 ) 6. Relationship to Work & Workplace ( 4 ) "Live to work" Boomers are committed, hard- working, and career focused... workaholics Loyal and willing to stay in same job for long time "Work to live" Embrace change in workplace Career-oriented but strive for work-life balance Entrepreneurial spirit Achievement-oriented Seek meaningful careers Don't tend to stay in one job very long "What's in it for me?" 7. Print Media Preferences (Be specific) ( 9 ) Newspapers & magazines Newspapers & magazines Newspapers & magazines 8. Online Media Content: Blogs, Content: Blogs, Content: Blogs,
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Preferences (Be specific) ( 8 ) Comments, Reviews Platform: Facebook, YouTube, Google+ Visual: Images, Videos, Charts/Graphs Comments, eBooks Platform: Facebook, YouTube, Twitter Visual: Images, Videos, Memes Comments, Audiobooks Platform: Facebook, YouTube, Twitter, Tumblr Visual: Images, Videos, Memes 9. Percentage identifying current religion as athiest, agnostic or none ( 11 ) 17% 23% 34-36% 10. Percentage favoring same sex marriage ( 11 ) 45% 59% 70% Source 1: -
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  • Fall '19
  • Generation Y

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