Matching Items (3)

Filtering by

Clear all filters

135328-Thumbnail Image.png

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.

Contributors

Created

Date Created
2016-05

136418-Thumbnail Image.png

Marketing to Millennials: The Moderating Effect of Construal Levels on Hedonic vs. Utilitarian Products

Description

As millennials are growing and becoming the "the next big consumer market," understanding them is crucial (Paul, 2001; Kumar & Lim, 2008). This study will attempt to understand their processing of ads by observing the relationship between construal level theory

As millennials are growing and becoming the "the next big consumer market," understanding them is crucial (Paul, 2001; Kumar & Lim, 2008). This study will attempt to understand their processing of ads by observing the relationship between construal level theory and product type (i.e. hedonic vs. utilitarian). Construal Level theory suggests that individuals construe information at different abstract levels. High levels are characterized by abstract and general representation (e.g. thinking of moving as starting a new chapter of life) while low levels are characterized as including more concrete and contextual details (e.g. thinking of moving as packing boxes). Neither interaction nor main effect of product type was observed either as main effect or as interaction with construal level. However, a significant main effect of construal level was found showing that concrete and contextual (low construal level) information on advertisements makes them more effective and useful to millennials; influences purchase intentions more than ads construed in high construal levels; and, makes brands seem more credible, stable and truthful.

Contributors

Agent

Created

Date Created
2015-05

137450-Thumbnail Image.png

Entertainment Marketing to the Millennial Generation

Description

Entertainment Marketing to the Millennial Generation is an honors thesis project which combines research with a creative application. The thesis consists of four main segments: an overview of data surrounding Millennials, a discussion of three companies that successfully marketed to

Entertainment Marketing to the Millennial Generation is an honors thesis project which combines research with a creative application. The thesis consists of four main segments: an overview of data surrounding Millennials, a discussion of three companies that successfully marketed to this generation, the creation and explanation of a proposed marketing modeling framework and an application of the previously found conclusions to a brief advertising strategy for Paramount Pictures. This thesis first looks at the Millennial Generation to answer the question "Who are the Millennials?" and to more clearly understand their role as media and entertainment consumers. Characteristics of technological dependence, fast-moving attention spans, desire for connection, and unique brand perceptions emerged as most significant. The case studies examine the marketing campaigns of Lionsgate Films' The Hunger Games, Nickelodeon's The 90s Are All That and MTV Iggy's Music Experiment. Strategic tactics used to target and foster a strong Millennial fan-base were identified. The previously discovered principles led to the development of a modeling framework to be used to build a Millennial-focused marketing campaign. The framework utilizes the five key elements of connectedness, hyper-advertising, technological leadership, brand currency and cultural edge. Finally, all findings were gathered and applied to Paramount Pictures. The knowledge gained from Millennial research, the case studies and the marketing framework shaped recommendations for a creative advertising brief for Paramount Pictures' Anchorman 2. The general principles of the thesis were also suggested for use in marketing in various industries.

Contributors

Agent

Created

Date Created
2013-05