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Defining the Millennial Generation and the Effects and Shifts into Interactive Marketing

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This honors thesis study aimed to gain a better understanding of millennials and how to effectively use interactive marketing to advertise to this generation. The thesis was broken up into three segments. The first segment includes a literature review on:

This honors thesis study aimed to gain a better understanding of millennials and how to effectively use interactive marketing to advertise to this generation. The thesis was broken up into three segments. The first segment includes a literature review on: identifying and comparing within the millennial generation, millennials impacts on marketing, and an introduction to interactive marketing. The second segment covered the methodology study including the application of the research findings to analyze the effectiveness of interactive marketing and the shift brands have made to reach millennials. Lastly, the final section covered an overall conclusion and recommendations. This paper first identified who the millennial generation is and discussed the differences between the older and younger millennials among the generation as a whole. Then the paper moved into defining what interactive marketing is and how it is being used and targeted towards the millennial generation. The next section identified the key differences within the millennial generation and the main areas in which this generation impacted brands and the company's interactive marketing efforts. The research suggests what the most influential take-a-ways from the millennial generation are and how brands shifted in order to better target the new types of consumers. Additionally, the information obtained from understanding the millennials' perspective on interactive marketing provide companies a better idea of how to market to them. Lastly, the recommendation checklist for companies to follow on how to create a successful interactive marketing advertising campaign helped to position brands in the most efficient way possible when entering this new form of marketing and specifically targeting millennials.

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2017-05

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Millennials' Views of Terror Impacted Tourist Destinations

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Throughout history, terrorism has had major effects on tourists and tourism destinations that are targeted. When terrorists execute an attack in order to communicate a message, resulting impacts go far beyond lives lost. Included in these impacts is the fear

Throughout history, terrorism has had major effects on tourists and tourism destinations that are targeted. When terrorists execute an attack in order to communicate a message, resulting impacts go far beyond lives lost. Included in these impacts is the fear that terror attacks leave on tourists, sometimes creating such an impression that tourists change travel plans as a result. Although there are many studies on destination image, risk perception, and decision-making, very few focus specifically on the millennial generation. Because millennials are changing the travel and tourism scene - as they now make up the largest percentage of the population \u2014 it is important for stakeholders in the tourism industry and DMOs to understand this shift and the implications that come with these changes. This study provides a qualitative analysis of millennials' views, attitudes, and beliefs regarding terror impacted tourist destinations. Specifically, it will explore how millennials develop their destination images, if millennials view international travel to be risky, and if millennials are willing to travel to terror impacted tourist destinations. Using focus group methodology, this study gathered data from students from a number of disciplines, genders, and travel experience, in order to understand the themes listed above. Analysis of the findings and implications for officials and DMOs follow, as well as a conclusion including limitations and recommendations for future studies.

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2017-05

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Preparing Millennials for a Career in Sales

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The rising age of the Baby Boomer generation has made a significant impact on the workforce, leaving leadership gaps that Generation X is unable to fill. This leaves an opportunity for the Millennial generation to step up and use their

The rising age of the Baby Boomer generation has made a significant impact on the workforce, leaving leadership gaps that Generation X is unable to fill. This leaves an opportunity for the Millennial generation to step up and use their strengths and skills to become stronger leaders of the business and sales industry.
To bridge the gap between the growing sales industry there is the ability to properly train Millennials so they are successful and stay within their roles longer. By attacking this problem from a university level by strengthening sales programs as well as having employers understand and respond to needs of the Millennial generation, this will create an overall successful Millennial salesperson that will stay with their employer long term.
Strengths and weaknesses of this generation are also important to understand. Millennials are known to be tech-savvy, open-minded, collaborative, and connected, resourceful networkers. They also carry weaknesses and stereotypes of being lazy, lacking communication skills, impatient, entitled, and demanding of feedback and work flexibility. From an employer, they expect a large salary as well as a good culture, manager feedback, a mentor, work-life integration, an employer with a social responsibility mindset, and a sense of purpose.
An analysis of 12 sales programs at various universities across the country helped to understand what is being taught and offered to students as well as commonalities and differences that make a strong sales program. Commonalities among these programs include, about 250+ students, high job placement, sales labs, hosting and competing in sales competitions, and a desire to expand and grow their programs. Unique aspects of various programs were partnerships with the sales industry, hosting fundraisers, student ambassadors for the sales program, CRM courses, and internships and competition requirements.
Primary research was conducted to understand various sales development programs from companies in the sales industry. The 12 companies that participated in this research were from Arizona State University’s Sales Advisory Board. These companies completed a survey that provided detailed information of their onboarding and training process as well as their opinions of Millennial employees.
From this research, recommendations were formed for employers,
• creating a collaborative and innovative culture
• A mentorship program
• work flexibility
• continuous learning
• sense of purpose
As for Arizona State’s Sales Program, recommendations include,
• a mentorship program between Sales Scholars and the Sales Advisory Board
• creating a sales lab
• implementing CRM curriculum in classes
• continued support from the Board and alumni of the sales program

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2017-05

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The Evolution of Social Media: Its Effect on Various Facets of Society

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Social media has evolved so quickly in the past two decades and continues to grow and change at a rapid pace. This way of connecting and communicating with others has become so ingrained in daily life and can have a

Social media has evolved so quickly in the past two decades and continues to grow and change at a rapid pace. This way of connecting and communicating with others has become so ingrained in daily life and can have a major influence on people's actions. Social media and social networking look vastly different today than it did in the past, and will continue to change for the future. The sports and travel industries are no exception to the integration of social media. Both entities understand the importance of being prominent in the online domain and connecting to the Millennial generation. It is crucial for young people to learn how to positively use social media in the classroom and in the workplace as their lives become consumed by this digital world. The emphasis on social media in different facets of society can bring both positive and negative connotations along with it, depending on how, when, and why people decide to use it. Social media is not meant to replace all interactions and forms of contact, but rather enhance these relationships. By analyzing the history of social media, current trends and effects, this project seeks to forecast the impact that social media will continue to have in the future. In the fast paced world today, social media and other forms of electronic communication will only continue to increase and be intensified. This project explores how social media has impacted society, most importantly, the travel industry and the sports industry. Social media will continue to expand knowledge, connect people all over the world, and enhance experiences as it inevitably becomes even more integrated into everyday life.

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2017-05

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The Final Chapter: How Independent Booksellers Can Adapt to a Changing Industry

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The purpose of this thesis is to examine the current state of the brick-and-mortar bookselling industry, with particular focus on independent bookstores and their strengths and weaknesses, and synthesizing recommendations for these bookstores to reinvent themselves in a rapidly changing

The purpose of this thesis is to examine the current state of the brick-and-mortar bookselling industry, with particular focus on independent bookstores and their strengths and weaknesses, and synthesizing recommendations for these bookstores to reinvent themselves in a rapidly changing market. This examination is highly relevant given recent concerns that, with the rise of e-retailers like Amazon and the closure of bookstore chain Borders, brick-and-mortar bookstores may be superseded by new digital vendors. Independent bookstores are thought to be at a particular disadvantage to these retailers, given their limited size and resources, as well as the lack of capital or consumer base that a larger chain like Barnes and Noble can draw upon to invest in emerging technology. With these more limited financial opportunities, independent bookstores must find different ways to not only keep abreast of the technology that consumers are coming to expect from modern businesses, but attract customers.
To gain insight into the state of the industry and current position of independent bookstores, I will first examine the past fifty years of the brick-and-mortar bookstore, followed by a Porter’s Five Forces analysis of the industry threats and a SWOT analysis to compare the strengths and weaknesses of independent bookstores. Next, the patrons of independent bookstores will be discussed with a focus on the two largest consumer groups of Millennials and Baby Boomers, their characteristics, and the opportunities they provide to bookstores. After this there will be an exploration of the competitors to brick-and-mortar bookstores, focusing on Amazon and then touching on some of the other rivals to bookstores’ consumer base. The next section will be an in-depth analysis of a variety of bookstores across the United States, with attention to their successful practices, goals, concerns, and failures. First, there will be a comparison of industry success and failure through case studies of Borders and Powell’s bookstores. Next, there will be a comparison of five beloved independent bookstores across the country to share their varied competitive advantages that are the secret to their success. Finally, there are primary source interviews with the employees of three major Phoenix bookstores, which provide insight into the goals, current projects, attitudes, and inner strengths of these businesses. Finally, the thesis will conclude with a section offering solutions and suggestions for independent bookstores to pursue based on the primary and secondary research discussed above. These recommendations are focused on five key areas:
• Community
• Consumers
• Store Design
• Technology
• Diversification
Ultimately, the information provided by this research and these interviews indicates that while vital business changes are being pursued by independent and chain bookstores across the United States, the independent bookstore shows no signs of disappearing in favor of online vendors or e-readers.

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2017-05

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Music Consumption - Millennials: Implications for Streaming Services

Description

The development of music streaming services over the past 10 years has been an innovative way in which the music industry has adapted to the digital revolution and the increase in online piracy. Given millennials' increasing use of web and

The development of music streaming services over the past 10 years has been an innovative way in which the music industry has adapted to the digital revolution and the increase in online piracy. Given millennials' increasing use of web and mobile platforms and the growth in audio and video streaming seen in the last few years, this paper will seek to identify and analyze the marketing strategies and product offerings of the streaming services currently on the market, and identify the listening and buying habits of millennials to see which of these services is most representative of these trends. One way this was measured is through a survey of 429 students attending the W.P. Carey School of Business at Arizona State University. Based on the findings of this survey in the context of the streaming services' current business models, it was discovered that people within this age group want a service that is low-cost, accessible, and rich with content. Second, they are not more likely to choose a streaming service over another if it pays out high royalties to others. Lastly, it was determined that while Spotify is currently the frontrunner for streaming services, Apple Music will likely see growth in usage and subscription revenue through its permanent presence on the world's most highly used phone. This will be dependent on Apple Music's ability to differentiate itself from other competitors on the market. Overall, it is likely that streaming services will have to provide a low-cost option for consumers while artists will need to find alternative sources of revenue given the substantial change in the business model of the recording industry.

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Date Created
2016-05

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Marketing to Millennials Within the Airline and Finance Industries Across Cultures

Description

Millennials are the group of people that make up the newer generation of the world's population and they are constantly surrounded by technology, as well as known for having different values than the previous generations. Marketers have to adapt to

Millennials are the group of people that make up the newer generation of the world's population and they are constantly surrounded by technology, as well as known for having different values than the previous generations. Marketers have to adapt to newer ways to appeal to millennials and secure their loyalty since millennials are always on the lookout for the next best thing and will "trade up for brands that matter, but trade down when brand value is weak", it poses a challenge for the marketing departments of companies (Fromm, J. & Parks, J.). The airline industry is one of the fastest growing sectors as "the total number of people flying on U.S. airlines will increase from 745.5 million in 2014 and grow to 1.15 billion in 2034," which shows that airlines have a wider population to market to, and will need to improve their marketing strategies to differentiate from competitors (Power). The financial sector also has a difficult time reaching out to millennials because "millennials are hesitant to take financial risks," as well as downing in college debt, while not making as much money as previous generations (Fromm, J. & Parks, J.). By looking into the marketing strategies, specifically using social media platforms, of the two industries, an understanding can be gathered of what millennials are attracted to. Along with looking at the marketing strategies of financial and airline industries, I looked at the perspectives of these industries in different countries, which is important to look at because then we can see if the values of millennials vary across different cultures. Countries chosen for research to further examine their cultural differences in terms of marketing practices are the United States and England. The main form of marketing that was used for this research were social media accounts of the companies, and seeing how they used the social networking platforms to reach and engage with their consumers, especially with those of the millennial generation. The companies chosen for further research for the airline industry from England were British Airways, EasyJet, and Virgin Atlantic, while for the U.S. Delta Airlines, Inc., Southwest Airlines, and United were chosen. The companies chosen to further examine within the finance industry from England include Barclay's, HSBC, and Lloyd's Bank, while for the U.S. the banks selected were Bank of America, JPMorgan Chase, and Wells Fargo. The companies for this study were chosen because they are among the top five in their industry, as well as all companies that I have had previous interactions with. It was meant to see what the companies at the top of the industry were doing that set them apart from their competitors in terms of social media marketing content and see if there were features they lacked that could be changed or improvements they could make. A survey was also conducted to get a better idea of the attitudes and behaviors of millennials when it comes to the airline and finance industries, as well as towards social media marketing practices.

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2016-05

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I Am Not A MIllennial

Description

I Am Not A Millennial is an honors thesis project that combines research with a creative application to determine the best practices for companies and advertising agencies. The thesis consists of three main sections: an overview of what a millennial

I Am Not A Millennial is an honors thesis project that combines research with a creative application to determine the best practices for companies and advertising agencies. The thesis consists of three main sections: an overview of what a millennial is, bursting the millennial hype bubble, and discussion of whether new targeting techniques, new ideas for content, or new ways of advertising are necessary to engage the Millennial consumer. The thesis will first look at the Millennial Generation to answer the question of "Who are they?" with the emphasis on removing the negative stereotypes from the Millennial generation. This section will be supported by the following section which will discuss the lack of statistical information that truly separates the Millennial generation from its predecessors. Finally, by presenting information on my experiences leading a student-run advertising non profit, case studies, and working within an account management department of an advertising agency, this thesis will present conclusions that advertising agencies and businesses need to develop targeting and content practices that focus in on consumers' interests and tell the story of "why" in order to connect with Millennials.

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Date Created
2016-05

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Techniques and Strategies For Recruiting Educated Millennials From Four- Year Institutions To Their First Career

Description

This thesis will examine the recruitment process of educated millennials coming from four-year institutions to their first job out of college. When referring to millennials throughout my research, I am specifically focusing on current college graduates in order to better

This thesis will examine the recruitment process of educated millennials coming from four-year institutions to their first job out of college. When referring to millennials throughout my research, I am specifically focusing on current college graduates in order to better relate to my own experiences as a soon-to-be-graduate seeking a job. I will examine the various recruiting techniques, i.e. channels to connect with graduates, and the hiring and interview process as a whole. This thesis will also discuss the challenges and differences of recruiting millennials versus other generations. It will also discuss the latest trends in college and early talent recruiting. In order to do this, I conducted a number of in-depth interviews with recruiters and hiring managers from various companies that recruit heavily from Arizona State University (ASU), in order to determine what these companies have done to be successful among young college graduates. I aimed to identify the specific techniques that these companies use to connect with recent college graduates, what skills these firms are looking for, and what the hiring process looks like for new millennial employees. I also conducted an extensive online literature search about recruiting educated millennials in the workforce, and I used that information as a basis to form my interview questions. The interviews were meant to confirm or deny that research, but the interviewees also revealed many new trends and insights. I hope that this information will be beneficial not only to college seniors seeking first-time employment, but also to other companies who feel that they are struggling to capture young talent.

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Date Created
2016-05

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Music Streaming Services: A Study on Millennials' Listening Habits and the Future of the Music Industry

Description

The business models of the music industry are currently experiencing rapid changes. Services such as Spotify, SoundCloud, and Pandora offer methods of consuming music unlike any the industry has seen before. Consumers have shifted from wanting products (digital music and

The business models of the music industry are currently experiencing rapid changes. Services such as Spotify, SoundCloud, and Pandora offer methods of consuming music unlike any the industry has seen before. Consumers have shifted from wanting products (digital music and CDs) to using streaming services (Spotify, Pandora, etc.). This study analyzes the motivation for these changes and considers why people choose the avenues by which they experience music.

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2015-05