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Subculture - Generation X

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Subculture - Generation X

  1. 1. Subculture - Generation X Kenny Martin, Trey Newton, and Dana Sorensen
  2. 2. General Info GENERATION X
  3. 3. Generation X Generation X is the demographic cohort following the Baby Boomers Includes those born between early 1960s and early 1980s Traditionally refers to North Americans; Australia; England; Ireland and various other European countries
  4. 4. Demographics 50+ million people By broadest definition, the 2016 ages of Gen X are 35-55 Life expectancy rose from 70.2yr (1965) to 72.9yr (1976) Based on US Census Data from 2012
  5. 5. Projected Population by Generation Births Underlying Each Generation
  6. 6. Generations Book by Neil Howe and William Strauss Creative theory that every generation falls into one of four archetypes and occur in one of four cycles that continuously repeat. Archetypes: Prophet Nomad Hero Artist ● Cycles: High Awakening Unraveling Crisis
  7. 7. Historical Context
  8. 8. Historical Context The Civil Rights Movement Technological advancements 1977 - 1st space shuttle tested 1990 - Hubble space telescope launched Health 1978 - First test tube baby born 1981 - AIDS 1st identified 1982 - 1st artificial heart
  9. 9. Political Aspects Wars on wars on wars… Three Mile Island nuclear accident The Berlin Wall falls The Soviet Union ends US Stock Market drops 22% Watergate
  10. 10. Social Context
  11. 11. Social Context Gen X “sandwiched” between Baby Boomers and Gen Y Mothers working outside the home Divorce on the rise Downsizing and layoffs More ethnically diverse than previous generation Birth rate drop after 1964 FDA approval of oral contraceptives (1960) Legalized abortion (1973) AKA the “Baby Busters” generation
  12. 12. Cultural Context
  13. 13. Cultural Context Internet usage up Media CNN MTV The Oprah Winfrey Show Seinfeld Friends Personal technology
  14. 14. Gen X Celebrities Robert Downey Jr. (1965) Adam Sandler (1966) Nicole Kidman (1967) Will Smith (1968) Jennifer Aniston (1969) Brett Favre (1969) Tina Fey (1970) Snoop Dogg (1971) Eminem (1972) Heidi Klum (1973) Leonardo DiCaprio (1974) David Beckham (1975) Drew Barrymore (1975) Tiger Woods (1975) Peyton Manning (1976) Reese Witherspoon (1976)
  15. 15. Characteristics of Gen X
  16. 16. Family More single-parent households Smaller families Latchkey children “Sandwich Generation” which takes care of both aging parents and raising 50+% of U.S.’s children under 18 Nontraditional families becoming more seen and accepted Helicopter parents
  17. 17. Work & Finances Less committed to any one job or company More flexible resumes Quick-to-learn (tech savvy) Entrepreneurial vs. Slacker Work-Life Balance Cautious with money Saving money is huge for Gen Xers
  18. 18. Lifestyle and Worldview More PC and accepting of different cultures Apathetic and cynical Educated Disdain for authority Individualistic
  19. 19. Accomplishments
  20. 20. Consumer Behavior GENERATION X
  21. 21. Consumer Behavior - Overview Generation X tends to, as adults, be savvy consumers who pride themselves on making informed purchase decision, often turning to the internet when searching for the best value. Main Topics: Product Searching & Purchasing Digitally Driven Consumer Values
  22. 22. Consumer Behavior - Finances Gen X are big spenders More spending power than any other generation 29% of estimated net worth dollars 31% of total income dollars Soon to replace Baby Boomers as a cash cow for marketers
  23. 23. Product Research Gen X consumers research and seek out product information before making purchases more than any other generation Will not buy a product until they’ve thoroughly researched it first Read reviews & visit opinion and social media sites Research can be very extensive and rigorous to find the best available option
  24. 24. Skeptical of Usual Marketing Tactics Gen X consumers tend to use their own extensive research to shop in order to avoid being targeted If unsure of a product purchase decision, they will usually not pull-through Flashy Ads do not appeal or work with them Gen X more often prefer clear cut explanations of product benefits
  25. 25. Tech Savvy Consumers Generation X was there during the early development of computers and the internet Millward Brown Digital (a british multinational market research firm) surveyed more than 1,000 consumers in three generations (Millennials, Generation X, and Baby Boomers) to see how different age groups favored digital screens for various activities. 60% of Gen Xers use a smartphone on a daily basis 67% use a laptop/PC daily Surpassed the 58% of Millennials who use a laptop/PC daily.
  26. 26. Responsive to Digital & Traditional Advertising Even though they use technology on almost a daily basis, digital advertising wasn't too popular early on in their lives Gen X consumers are accustomed to traditional advertising, but have become very used to digital advertising Meaning they get exposed to ads from both digital and traditional media Traditional Methods (Hi-Lo) Television Print Radio Digital Methods (Hi-Lo) Email Mobile Social Media
  27. 27. Consumer Values - Overview Generation X values: Sincerity Authenticity Independence Consumer Diversity Generation X tends to be very brand loyal.
  28. 28. Corporate Views Gen X values sincerity, authenticity, independence, and consumer diversity especially when it comes to advertising They want to be acknowledged as an independent consumer Have a personalized brand experience Do not respond well to generic “One-Size Fits All” marketing approaches
  29. 29. Personalized Advertisement Study Research from IPG Media Lab and Yahoo found that personalized ads boosted brand favorability and purchase intent among all internet users most notably Gen X
  30. 30. Brand Loyalty If a Gen X consumer values a company and its products, they tend to be very loyal to that specific brand/company/product Willing to dish out more money to purchase a product if they already have knowledge and trust in it Gen Xers are much less interested in trying new brands compared to other generations Personalized Consumer experiences help build that loyalty
  31. 31. Marketing Strategies Dana Sorensen GENERATION X
  32. 32. Marketing Strategies - Overview Market towards the “Researchologist” Effectively Communicating Through Email and Direct Mail Things to be cautious about when marketing to Generation X
  33. 33. Marketing Strategies - Research Generation X is sometimes referred to as “Researchologist”, as stated earlier they tend to research thoroughly before making a purchase. Marketers must insure there is ample, reliable information easily accessible to the consumer on multiple platforms. Generation X also tends to be taking care of aging parents as well as growing children. “Sandwich” generation, Baby Boomers and Millennials.
  34. 34. Marketing Strategies - Communication Email campaigns along with Direct Mail Marketing work well for Gen X. The Direct Marketing Association found that direct mail has a %4.4 response rate, email has a %0.12 response rate. Generation Xer’s are a very diverse demographic of consumers to market to. Those who are on the tech savvy end check their email on a regular basis. Email marketing to Gen X must include only relevant information. Customizing the content helps the consumer feel appreciated. By including a video in your email marketing you can increase your conversion rate by up to %50.
  35. 35. Marketing Strategies - Stereotypes The Nielsen company points out traits about Gen X’ers that marketers must be aware of, as to not insult or turn away consumers. Both Generation X women and men prefer a more calm and family friendly approach to advertising. Women tend to be more family focused and relate to everyday family activities. Use major sentimental events in a woman's life to create emotional attachment to products or brands Men are a more traditional: into cars, sports, do it yourself projects around the house.
  36. 36. Marketing Examples Dana Sorensen GENERATION X
  37. 37. Marketing Examples Successes: Miller Lite Dove: Campaign for Real Beauty Failure: Lifelock
  38. 38. Marketing Examples - Miller Lite Miller Lite went through many changes since its debut in 1975 One of the most recent changes is the can. They went back to the “retro-look”, a simular can design from the late 70’s and 80’s, away from the blue cans that many thought looked too much like a soda can. After this packaging change, the second half of 2014 saw shipments grow by a few points every week.
  39. 39. Miller Lite During the late 70’s and early 80’s they started running ads featuring famous sports figures. Bringing in the sports stars like Dick Butkus, Bubba Smith and John Madden brought out the sports side of people back then A main objective was to bring masculinity to drinking light beer, showing that even these guys enjoy the taste of a light beer that was low in calorie.
  40. 40. Dove: Campaign for real Beauty Doves Campaign changed the way the health and beauty industry markets towards women. This was an ad campaign asked women what attributes made them beautiful instead of asking what they wanted to change. The Generation X women in this campaign helped pave the way for the next generations to bring back natural beauty.
  41. 41. Marketing Failure: Lifelock Lifelock CEO made one of the most dramatic marketing stunts the world had ever seen. He posted his photo with his actual social security number. This tactic was an epic failure, his identity was stolen 13 times, he called that a success Lifelock also guaranteed any sensitive data you gave them would be encrypted and secure, none of which was true. They even failed to follow a Federal Trade Commision order to establish and maintain a program to secure and protect personal data.
  42. 42. Citations https://www.metlife.com/assets/cao/mmi/publications/Profiles/mmi-gen-x-demographic- profile.pdf http://www.pewresearch.org/fact-tank/2014/06/05/generation-x-americas-neglected-middle- child/ http://www.governing.com/topics/urban/gov-generational-population-data-maps-by-state.html http://www.pewresearch.org/fact-tank/2016/04/25/millennials-overtake-baby-boomers/ http://www.jenx67.com/who-is-generation-x http://www.valueoptions.com/spotlight_YIW/gen_x.htm http://www.wmfc.org/uploads/GenerationalDifferencesChart.pdf http://danschawbel.com/blog/44-of-the-most-interesting-facts-about-generation-x/ http://yourbusiness.azcentral.com/generation-x-consumer-behavior-9585.html https://www.centro.net/blog/generation-x-the-small-but-mighty-generation/ https://www.ipglab.com/wp-content/uploads/2015/04/Going-Deeper-Booklet_Web-2.pdf https://www.pinterest.com/explore/advertising/ http://www.centerforinquiry.net/blogs/entry/reply_to_a_cell_phone_story_complaint/ https://ntinm4.wikispaces.com/Brand+Loyalty https://www.roomtogrow.co.uk/blog/bedroom-ideas-encourage-independence/ https://www.linkedin.com/pulse/20141020153419-120693972-motivational-molds-why-one-size- doesn-t-fit-all https://www.centro.net/blog/generation-x-the-small-but-mighty-generation/ http://adage.com/lp/top15/#realbeauty https://www.wired.com/2015/07/lifelock-failed-one-job-protecting-data/ http://fortune.com/2015/03/23/miller-lite-beer-evolution/ http://www.americasbestcompanies.com/blog/6-rules-marketing-generation-x.aspx http://www.terrenceblair.com/blog/advertising-to-generation-x/ http://marketingzen.com/marketing-to-generation-x/ http://www.charmmdfoundation.org/resource-library/effective-communication/checklist- communicating-different-generations https://advertising.yahoo.com/insights/overlooked-influence-gen-x
  43. 43. Questions?

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