Sunday, April 21, 2013

Week three EOC: My Demographics

My demographic group is the Millinials.  "This group was born between 1977 and 2000, these children of the baby boomers number 83 million, dwarfing the Gen Xers and larger even than the baby boomer segment. This group includes several age cohorts: tweens (aged 9–12), teens (13–18), and young adults (19–32). With total purchasing power of more than $733 billion, the Millennials make up a huge and attractive market." (Kotler, Marketing an introduction).

"The millennials have developed a reputation for a certain materialism. In a Pew Research Center survey in which different generations were asked what made them unique, baby boomers responded with qualities like “work ethic”; millennials offered “clothes.” But, according to new data, even though the recession is over, this generation is not looking to gorge; instead, they are the kind of hungry that cannot stop thinking about food. “Call it materialism if you want,” said Neil Howe, an author of the 1991 book “Generations.” It seems more like financial melancholy. “They look at the house their parents live in and say, ‘I could work for 100 years and I couldn’t afford this place,’ ” Howe said. “If that doesn’t make you focus on money, what would? Millennials have a very conventional notion of the American dream — a spouse, a house, a kid — but it is not going to be easy for them to get those things.”(http://www.nbcnews.com/business/do-millennials-stand-chance-real-world-2B9110594).

Millinials have also been referred to as the "net generation," because they can't remember a time without the internet.   I was born in 1978 and didn't have an internet account until the late 90's.  I actually find myself missing the days when communication between people wasn't all through social media outlets, such as Facebook.  Although convenient, I think that the majority of us millennials are the "we want it right now" generation. Which could be our downfall in the future as we progress economically.  I think we can all take a lesson from our past generations.

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