Generation Y, or Millennials, have a reputation for some basic traits that are commonly used to describe the generation, such as being tech-savvy, having preferences for instant gratification, relying on word-of-mouth over corporate messages, being socially and environmentally conscious, and displaying a sense of entitlement. Many companies lump American Generation Y consumers into one market segment based on these and similar descriptors, yet they continue to find difficulties in effectively marketing to them. A logical explanation is that this generation is a massive group at almost 80 million people, spanning two decades of births. There are many differences among the members that can be used to further segment these consumers into smaller, more meaningful groups that could be more effectively targeted. Boston Consulting Group and Barkley USA, an integrated marketing agency, performed a large-scale survey of 4,000 members of Generation Y and 1,000 consumers in older generations to better understand the differences. This research project resulted in six discrete segments of Generation Y members based on a variety of psychographic and key demographic attributes, which are described below:65

Hip-ennial: The largest segment, representing 29 percent, feels that they can have a positive impact and make the world a better place. They are very informed of what is going on globally and locally through regular consumption, but not creation, of news and information on social media. The majority of this segment is underemployed females, usually students and homemakers.

Millennial Mom: This is another large female-oriented segment, at 22 percent, who are confident, love to work out, travel, and pamper their children. This group skews to the older part of Generation Y and is the wealthiest of the six segments. They are very tech-savvy and active in social media, but they often feel isolated from others by their daily routines.

Anti-Millennial: This segment, which accounts for 16 percent, is much more traditional and conservative than the other groups. These consumers are focused on their own business and family and do not spend extra money on green products or services. Unlike the others, they are uncomfortable with change and excitement, opting instead for the comfort of the familiar. While this group contains members of both sexes, it tends to be more female.

Gadget Guru: This segment, at 13 percent, is dominated by single males. They are wired and place great importance on consuming cutting-edge technological innovations. This group is generally very confident, successful, and free spirited. They also are known for actively contributing content to social media.

Clean and Green Millennial: This segment accounts for 10 percent and is male-dominated, younger, and likely to be full-time students. They are cause-driven, environmentally conscious, and health conscious and maintain generally positive outlooks. This group generates quite a bit of social media content, which often is related to supporting their philanthropic causes of choice.

Old-School Millennial: This segment, which covers the remaining 10 percent, is quite different from the other five segments. They are the least likely to spend much time consuming or generating online content, instead preferring to read books and meet social contacts in person. They are also much more charitable than the other segments. This group is independent and self-directed, whereas other Gen Y members prefer mentors and managerial feedback. This group tends to be older than the other segments.

Clearly Generation Y is large and diverse, and marketers should consider the differences in these segments in designing appropriate and effective marketing strategies.

Anwser these questions:

a. Do you feel that these segments are mutually exclusive, meaning there is no overlap and a particular person should fit only into one segment? Do you feel they are exhaustive, meaning that together they cover everyone? Explain.

b. Imagine you are a marketer of some type of consumer packaged good. Choose a product and choose one of the segments. How would you best communicate about your chosen product with your chosen segment?