Tuesday, January 27, 2009

Talkin' 'bout my generation...

The article quotes an 18-year-old as saying “I find out about things I want to buy from my friends or from information on the Internet.” I completely agree with this sentiment in regards to Generation Y. One thing I have noticed in my experience as a member of this generation is that so many find it important to be the first to adopt a trend. The hope is that you will be admired for having the latest electronic or fashion item, and that it will subsequently filter throughout your social circle.

In conflict with this idea, however, is the desire to be unique. Because of this, the ability to customize plays a huge role in our decisions to purchase, and should be an area of focus for marketers. If a friend gets something new and you decide you want that something for yourself, it is a plus if there is some way to set yourself apart. This allows you to embrace your individuality, and avoid being labeled a follower. Take for instance an iPod. You see people roaming all across campus with the device in hand, but it is rare that you see any two iPods that look the same once it is unwrapped and revisions are made. Cases, skins, colored headphones, neon screen protectors, and more add-on’s than I am able to name, ensure that even though you may not have been the first to discover the product, it is still uniquely your own. This occurs despite the fact that at their core, the devices are all basically the same.

I too tend to subscribe to this idea, which is probably why I have grown so aware of its existence. Right after I bought my iPhone, I went straight to the AT&T store, and now my iPhone is gold. I know so many people that have the iPhone, which is understandable because I am constantly amazed at the things it can do. I don’t expect to be the only person to have it in a generation so deeply entrenched in new technology. But no one I am close with has a gold phone…and I love that.

I agree with and I appreciate the article’s depiction of Generation Y-er’s as individual and diverse thinkers. It specifically cites the J.C. Penny Arizona-Jeans campaign “showing teens mocking ads that attempt to speak their language,” and describes a young man’s lack of care upon hearing that Michael Jordan was being used to push Nike’s. From my perspective, I don’t see how a one-celebrity endorsement can reach enough members of a segment to make such a campaign profitable. For example, just because I would buy any product that Justin Timberlake or Tim Gunn stood behind, doesn’t mean that I expect marketers to cater to that. There is far more that I am interested in, and there is far more that will capture my attention, while simultaneously capturing the attention of those around me. The baby boomers, although larger in size than Generation Y, are described as much more homogeneous. The point of differentiation between the two groups, and a key insight marketers must keep in mind when communicating with Generation Y is diversity. Marketing attempts in all forms must be creative and widespread, in an attempt to not leave anybody behind.

A service that I feel has given companies a simple outlet through which to reach their target markets in a unique way is Mobile Campus. Students who sign up for the service receive text messages from restaurants, shops, and a number of other local businesses offering promotions or just trying to get their name out there. The beauty of the website is that it is fully customizable to student users in the sense that the number and types of messages received can be filtered based on their interests. Not only is this a more creative outlet through which to promote, it addresses yet another key insight into understanding our generation; the overwhelming dependency on technology.

The article and podcast seemed to be describing either the younger members of Generation Y or me when I was 13 years old. I can’t remember the last time I saw or participated in some of the trends they describe. I disagreed with the podcast when it referred to the “kids” using MySpace, and the many safety issues that arise in association with these websites. While I realize that there are many people out there willing to divulge their contact and personal information on the internet, it is not a stereotype that can be made for all of Generation Y. I had a MySpace when I was 16, and I spent hours browsing MySpace profiles just as the podcast describes. When I signed up for Facebook, membership was only offered to college students. I loved the exclusivity of the site and being able to easily keep in touch with old friends while also meeting new classmates. After an influx of unsolicited messages from random men on MySpace, I suspended my account in order to focus completely on Facebook. I have had years of experience on these sites, and have always been one to monitor closely how much personal information I reveal. I can say with great certainty that a majority of my classmates would agree, especially now that Facebook has gone global.

On the other hand, I agree with the podcast when it mentions that if a marketer wishes to spread a message, a digital medium such as Facebook (or the text message method) is the way to go. Companies can capitalize on the fact that so many of us are “addicted to Facebook” and spend at least some portion of our free time each day browsing the site. By creating groups and fan pages for their products and obtaining first-hand information from message boards, marketers can tap into the source rather than just guessing what it is Generation Y-er’s want to see.

To conclude, I really hope that I carry these realizations with me into my professional life. Also, because it was bugging me during the podcast, her name is Rihanna, not Rihannon :).

Sunday, January 25, 2009

Here's to a great semester...

Wow. Not only is this my last marketing elective, but my last semester at UT. Although the months leading up to graduation will stir up a range of emotions, I have no doubt that my experience in this course will be a positive and valuable way to end my time as a McCombs marketing major. I look forward to sharing my own thoughts, but more importantly, I look forward to getting to know you all through reading what you have to say and working with you throughout the course of this semester!