The Millennial Paradox

The Millennial Paradox

Expected Learning Outcomes

• Understand the millennials’ defining characteristics and debate on why the characteristics are often called ‘paradoxes’
• Discuss and debate on how the millennials characteristics can be converted into marketing triggers to understand their consumer behavior
• Analyze the possible challenges that marketers would face, given the millennials’ paradoxes, in turning millennials into brand advocates

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The Millennials: Complicated by Characteristics

1. What do you understand by – a) baby-boomers; b) Gen X; c) Gen Y/Millennials; d) Gen Z; e) Gen Alpha? What is the importance of understanding their characteristics for the marketers?

2. Who are the millennials? What are their characteristics as portrayed in the base article?

3. Considering that you are a millennial (born between 1980 and 1995), do you agree with a typical millennial consumer profile as depicted in the article?

4. Why are millennials tough-nuts to crack? What makes it so complicated to understand their behavior?

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Millennials: Consumer Behavior

1. How do millennials relate to the buying roles in the consumer buying: the initiator, influencer, buyer, user, maintainer and disposer?

2. Not only are millennials the most talkative and talked about generation in history, but they are also the world’s wealthiest2. How does their fiercely opinionated independent outlook, backed by the irresistible desire to be part of a group, impact the way they consume?

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The Millennial Paradox

Synopsis

Millennials born between 1980 and1995 are quintessentially paradoxical with the base article of this case flyer and several other research reports seconding the same. However, paradoxical they may seem, the marketing opportunities with them are quite promising. It is not easy though, to tap these millennials’ buying power (remember, they are rich too!!) unless the marketers make a very well-thought outreach.

Expected Learning Outcomes

• • Understand the millennials’ defining characteristics and debate on why the characteristics are often called ‘paradoxes’
• • Discuss and debate on how the millennials characteristics can be converted into marketing triggers to understand their consumer behavior
• • Analyze the possible challenges that marketers would face, given the millennials’ paradoxes, in turning millennials into brand advocates

Positioning and Setting

This case flyer can be ideally positioned for:
General Marketing Course –

• a) Segmentation – Behavioral and Demographic Segmentations
• b) Target Customers

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Suggested Orchestration

Before the Case Flyer Discussion in the Classroom

Before the students/participants come for the classroom discussion they were asked to:

a) View advertisements of a) Airtel Har Ek Friend Zaroori Hota Hai, b) Cafe Coffee day (CCD) Commercial Ad – A Prank Gone Wrong – To understand how two of India’s best brands have targeted the millennials

b) Watch the movies: The Confessions of a Shopaholic3 and Wake Up Sid4 - To understand the intriguing characteristics of a millennial

During the Case Flyer Discussion in the classroom

The discussion on the case flyer was conducted under three broad topics:

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The classroom discussion followed the below given process:

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I. The Millennials: Complicated by Characteristics

The discussion centred around understanding the concept of generations (Demographic segmentation, in one way) and the different connotations of generations and most importantly the marketing implications. Each set of customers (Baby Boomers, Gen Z, Gen Y or Millennials, Gen X and Gen Alpha) while offering a plethora of marketing opportunities, pose several daunting challenges. To have a conceptual clarity, Exhibit (TN)-I was used to explain the differences after students come up with their observations..............

Exhibits

Exhibit (TN)-I: Characteristics of Generations

Exhibit (TN)-II: Basic Model

Exhibit (TN)-III: A General Buying Decision Model

Exhibit (TN)-IV: Millennials’ Buying Decision Model