Compare and contrast Generation Y and Generation X. Which generation is of more interest to marketers? Why?
What will be an ideal response?
Generation Y were born between 1979 and 1994 and about 73 million strong, which is more than three times as large as Generation X. Most Gen Yers are the children of baby boomers and are described as impatient, family-oriented, inquisitive, opinionated, diverse, time managers, "street smart," and connected. They care about the environment and will often seek out "green" products. Generation X - people born between 1965 and 1978 - consists of 40 million consumers. It was the first generation of latchkey children and have been bombarded by multiple media since they were babies, so they are savvy and cynical consumers. They are older than Gen Yers and are reaching the age where they are sending their kids off to college. Gen Xers have been largely ignored due to the larger baby boomer and Gen Yers getting marketers' attention.
Both generations are important to marketers, but the size of Gen Y makes them attractive. However, Gen Xers are avid buyers of the latest clothes, technology, and recreational products.
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