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