it's Josip not joseph

Tag Archive: Consumer Trends

Using the Millennials to Your Uncharacteristic Advantage (Part 1)

Written on September 28, 2010 by Josip Petrusa

Understanding that today’s youth is growing up technologically advanced really is no big secret. The boom in social media and mobile devices amongst other technological advances has not only defined a generation, it has created a generation of digital natives. And at the same time, these digital natives, the Millennials, have redefined the world we live in.

It should be no wonder that my grandfather is in awe of my incessant BlackBerry use. Nor should I be surprised that my parents understanding of the internet is significantly different from my understanding of it. What is seemingly natural to us is so obviously alien to them.

But in the midst of everything, a sense of organized chaos has begun to emerge. Though my grandfather and parents are impervious to adapting to my way of life and though they will only ever be minimalist, at best, of the things I use, they, along with many others, have found a way to effectively use what Millennials use everyday.

Naturally and historically, our learning patterns have always had a top-down approach. Our parents would teach us. Our teachers would teach us. Our jobs would teach us. Well you get the point. There was always a sense that we would learn from an already established source. With that being said, the Millennials have unmistakably become this established source that many of our elders will learn from.

Always being connected, always sharing and always absorbing information, it would be undeniable to suggest that Millennials don’t know a trick or two their parents aren’t aware of. After all, Facebook was invited by a group of Millennial for Millennials. Smart phones were once considered instruments of professional business women and men, and have since been brought into the mainstream by a generation of exuberantly minded youth.

Realistically, a Millennials way of life will never truly be incorporated by many of those older than them. However, should the need arise, of which it has become a growing and continuing need, my grandfather, my parents though themselves not inclined to many technological aspects have me as a means to an end. Millennials, and myself included, have become the biggest influencers of our parent’s generation.

And as our parent’s generation, the Baby Boomers, still represent one of the largest portions of the population with unquestionable spending power, the Millennials can bridge a gap advertising and marketing really can’t fill when it comes to all the modern advancements that are occurring. Those mediums simply create a sense of awareness. However, at that same moment, Millennials already have the inside-scoop. Forget about the sales woman or man, Millennials have become the sales personnel for their parents.

Their influence comes at a time of rapid change. To suggest that all those older than the Millennials aren’t “in the know” would be a mistake. But it would be a mistake not to know that Millennials have an unprecedented influence on their parents. After all, we’re on pace to own more materialistic objects and consume greater amounts of information than ever before. Not only have I single-handedly owned more cell phones than my parents combined, I’m aware of information and sales and deals and anything else before it even becomes a thought for them. It’s not that our parents aren’t capable of doing the same. In many instances they are. They just simply don’t have to be. Especially when we, the Millennials, are their children.

Stay tuned for Part 2, when jump into deeper, more creative and adventurous waters.

(Photo credit)

Media and the Millennials: An Eccentric Relationship

Written on August 16, 2010 by Josip Petrusa

0 Comments

It’s hard to miss the media explosion that’s occurring. What was once a seemingly simple paradigm of television, radio, newspapers, magazines and the internet has branched out into a plethora of varying extensions. From mobile devices and apps, tablets and pads, laptops and netbooks to DVR, on-demand videos and online streaming, pay-per-click online reading, social media and much more, the segmentation and expansion of media is truly extraordinary. A setting Millennials absolutely thrive-in and one you’ll have to wait until the end of this article to understand why.

Traditional Media

The family sitting around the radio is a distant thought. Knowing that at one time the whole country would be crouched around the same few television channels is even hard to conceive. Even the almighty print-press has fallen victim to changing times. Sadly, few of us young ones can recall the time and sounds of dial-up internet and the hours we spent on it doing the simplest of things.

It would be foolish to suggest that times aren’t changing. But this doesn’t necessarily imply it’s for the worse. It implies that, well simply, things are different. A different set of situations and circumstances. With the ongoing segmentation and expansion of media, media itself seems to be on steroids – and it’s nothing short of getting it’s own congressional hearing.

But what does this mean to everyone? What does all this “media” deliver? It ultimately depends on what side of the table you’re sitting on. And let’s be honest about it, it concerns those who deliver it and those who use it. But who will ultimately benefit from it in the end? The brands, marketers and advertisers or the people – the consumers, the customers, the Millennials? Those who now have an exuberance of media outlets to keep them occupied or those who can reach you by any means?

Perceptions and Misconceptions of Media

The introduction of the internet forever changed and shaped today’s world. You could find anything and reach anybody. The amount of information online is inconceivable. It’s almost as if the world was handed a golden-egg. And then that egg began to chip, becoming less golden as time wore on.

Even though the internet has advanced, improved a thousand times over and provided ingredients for opportunity and success a-like, it has become quite a dilemma. Especially once you include all aspects of social media into that mix. The dilemma simply begins by understanding that media itself is not social. Media is a medium in which something is communicated. Inherently, a medium which is not innately social. The idea of social media is in essence oxymoronic.

Social media itself is a strategy and one that is continually mistaken for ideas of social engagement. Equally, this strategy is one based on traditional understandings of the marketing and advertising worlds. That is why so many perceived social media strategies fall short. They follow a medium that isn’t social nor is it engaging. And you shouldn’t be deceived either. Social media takes more effort than many are willingly to admit or even provide. It has to go far beyond the bandwagon and notions of “if everyone else is doing it..”.

The effort needed even grows further when you begin to breakdown all the media available. Media segmentation is occurring at a drastic pace. As media outlets are trying to satisfy the wants of everyone, we begin to see a vast and growing network of customization, specialization and specification. The problem here is that while we’re slowly localizing everyone and understanding that location, the efforts of business have to grow at this same pace in order to match these growing segments. This is an emerging time where we will see more marketing and advertising dollars spent than those of previous years, while garnering less in return.

Millennials’ Media Use

A time where media was a series general outlets is gone. As time goes on, sub-groups begin to emerge and grow. Now there are sub-groups of those sub-groups. Covering everyone with one blanket is hardly possible anymore. And it’s something many customers, especially those young and tech-savvy Millennials, are taking a liking to.

Due to the environment Millennials are growing in and the characteristics they exemplify, they themselves will be something of a quagmire in reaching. What’s interesting here is the idea that they’re actually doing more with more. Watching television while on the laptop is becoming natural. They could even be watching it on the laptop and while doing something else at the same time. Throw in mobile phones and all other aspects of the internet and you have a generation that is not necessarily avoiding advertisements because they want to but because so much more can be done at that time in between.

Advertising is losing it’s touch, and fast. 20 years ago, you really had no alternative. You either waited through the commercial or read through it in the paper. Today, the users, viewers, the customers, the people, the Millennials control what they will and won’t wait through. Again, it’s not because Millennials hate advertisements. We highly customize, specialize and segment our environments to such a degree that it’s become extremely effective and efficient for us. Ads become a time constraint and one we turn away from to do something else.

And it doesn’t have anything to do with Millennials being attention deficit or being “programmed” in a way where they need new stimuli in short periods of time. Millennials are master mulit-taskers. And every second counts. From chats, to tweets, to online videos, BBM, texts, calls, emails, streaming music, status updates, prime television and more, we just like to do more with more.

We Want [Social] Engagement, Not [Social] Media

The more we do, the more we sub-categorize ourselves. We don’t share a whole video, we share a specific part of it. We don’t look at everything in our Facebook and Twitter feeds, we look at segments of it. We customize our lives. We control what we want and we control when we want it. It’s not because we have to, it’s because we can.

Media is no stranger to the Millennials. They are constantly engulfed in it. However, understanding the issues and characteristics mentioned above is truly necessary. As media grows in size and variation, there will naturally be increasing divides. Not only will these divides be problematic for brands, marketers and advertisers, they will at the same time provide Millennials with the control of what they want to be a part of.

The Millennial thought-process will in turn be one that is highly focused on customization and specialization, growing distinctly specific and segmented sub-groups. Ultimately, you will try to get their attention. Just keep in mind that when you try to, media itself is a medium for communication. Engagement is truly what you are looking for.

(Photo credit)

How Will Gen-Y Change the World: A Gen-Y Mini-Series (Part 1 of 5)

Written on May 31, 2010 by Josip Petrusa

10 Comments

Last night I went on a TED adventure. “TED is a small nonprofit devoted to Ideas Worth Spreading” (and you can read further about TED on their about page). After watching a few videos and clicking through the site, the most fascinating thought hit me. As a Millennial and member of Generation Y, the thought is a question that I think we must answer and have to answer.

How will Gen-Y change the world?

I must admit, it’s a pretty open and broad question. The answers are endless. And each discipline can quite realistically answer this question in a different way. But the reality is that there are huge implications with this generation. Everything about Gen-Y seems to be interesting, complicated, surprising and problematic. However to really see what Gen-Y is about, you have to break them down and get to the heart of Millennial issues.

Today is going to be the first of five articles in a mini-series for this week. I’m going to dub it “How Will Gen-Y Change the World: A Gen-Y Mini-Series” (I know, it’s a pretty obvious title). So strap yourself in. Clear your mind. And get ready for a wild and interesting ride. First on our agenda: the Gen-Y Consumer.

The Gen-Y Consumer

The Gen-Y consumer is drastically changing the commercial landscape. Although to the naked eye this is not apparent, their consumer habits are reshaping many characteristics. This is being fuelled by a series of Gen-Y ideals. We are very clear on what we want and when we want it. Gen-Y wants the dream lifestyle now. And this itself is pushing products and brands into a lifestyle brand culture. In simplest terms, we want everything to happen now. We want the Benz (google search “Generation Benz” and you’ll see Mercedes is going in the right direction), the 7 For All Mankind designer jeans, the Chanel handbags and so much more. Can we afford it? Definitely not. But has that stopped us from trying and wanting to live this lifestyle? Not at all.

Hyperconsumerism and Gen-Y

Increasingly, all members of society are becoming hyperconsumerists. We are buying absolutely everything. And what we buy often causes us to buy more just to satisfy the first thing we bought. It has come to a point where you can quite realistically have multiple items that do the same thing, and yet we purchase more.

It’s really nothing new to know that we buy more now than ever before. And this increases as years go buy. What’s mind-blowing is the combination being created between Gen-Y and hyperconsumerism. This relationship is the catalyst to something more profound. It’s what I would like to call “consumer horizontalization”.

Consumer Horizontalization

Products and brands have always been placed on a vertical scale. One ranked higher than the other based on aspects such as brand name, exclusivity and price amongst other characteristics. In lamest terms, you would have differentiation based on top-level, middle and low-level categories. With that, you would have social classes that would fit these categories. Gen-Y is dramatically turning this vertical scale into a horizontal one.

Consumer horizontalization is the effect that Gen-Y is having on hyperconsumerism and all products and brands involved. As Gen-Y seeks to fulfill their dream lifestyle and as brands take on a lifestyle brand culture, you will effectively see a horizontal scale beginning to emerge. Although products and brands can very well bring their existing characteristics with them, they will differentiated based a series of other characteristics such as quality, customer service and ability to be customized.

And for those of you who made it down to the bottom of this article, you might be asking for some proof. The proof effectively exists in the malls and stores we all frequent. As time goes by, we see products and brands, which are ranked differently on a vertical scale, right beside each other, which is the emergence of horizontalization. With that it can’t be ignored that a horizontal scale is emerging. Nor can it be denied that Gen-Y is leading consumer horizontalization. As smartphones become “smartphones” and cars become “cars”, what will you do to standout and get a Millennials attention?

So stay tuned this week as we explore how Gen-Y is changing the world…

The Next Brand Wave: Customizable Products

Written on May 27, 2010 by Josip Petrusa

2 Comments

Launching new products is more than often a risky and difficult task to complete. Companies that have dominated segments even face this when they’re introducing something that is completely new. Getting consumers to go after something new when they’re already enjoying the traditional product is tough. Equally, if a new product does pass the introductory phase it doesn’t guarantee success. Many seem to fizzle out just a few years after.

With all the work that happens behind the scenes, such as research and development, marketing, advertising, etc, a failed product can be a costly venture. Even with everything companies think they know about the consumer, many of them still can’t get it right (because if they did all products would succeed all the time). I never understood why companies never just asked us in a more direct manner what we would like. And I know some of you are thinking they already do that. But to what success? What is interesting is that there is a strong trend fuelling direct consumer involvement. It’s allowing us to customize what we like, just a little bit more than usual.

Although customizing something has always been around for as long as there has been something to customize, this is customization on a completely different level. And all indications so far are pointing to some success. Companies like BMW and Coca Cola are doing new and cool things. The key seems to be not in introducing a brand new product but rather reinventing an existing one. And letting us reinvent it for them.

BMW is pitching a concept of “built-to-order” vehicles, in the US, where you get to customize your X3 model to your liking. This shouldn’t get confused with traditional options. You can create your X3 from a list of characteristics, making your choices original and your own. Wouldn’t it be great knowing there could potentially be no one else driving the exact same car as you?

Coca Cola has gone down a similar path. Although buying a soft drink doesn’t compare to the dollars spent on the X3, it still applies the same ideology. Always considered one of the best brands ever, Coca Cola is taking it one-step further with their Freestyle concept. Freestyle is based on the idea that you get to choose and pick what you’re going to drink. You literally get to “freestyle” and mix whatever you like from a series of flavours offered by the fountain dispenser. Just think about the combinations you and your friends could come up with. It’s all about you!

Interestingly, Coca Cola’s rival, Pepsi, has been doing something similar in recent year’s, which is something that has already been deemed to be a great success. The concept of DEWmocracy is not only clever but it works. It’s based around the idea that you and I can make-up some cool new flavour, amongst creating other things for the product, and then vote for the best one. We the “fans” are choosing what we want. It is up to us to decide what we want.

And if you still haven’t figured out the underlying point, it’s quite apparent that it’s all about consumer engagement. I’m not simply referring to the clichéd line “the customer is always right.” But what I am trying to point out is (and I’ve been doing this from the beginning of writing blog posts) that we the consumer, customer, “fan”, we all know what we want. Yes, sometimes we think of stupid things. But what company hasn’t come out with something stupid. Not only are you giving people what they want, you’re recreating interest within in your own brand. You’re giving them something to talk about. You’re giving them value by adding value to yourself. We all want our lives to be customized. We all want to be unique, different and great. Engage us, we’ll do the rest.

Entering the Golden Age of Advertising

Written on May 13, 2010 by Josip Petrusa

0 Comments

This last week has been anything sort of amazing for advertisers. In a series of articles on Nielsen Wire, Mashable, eMarketer and Retailer Daily, every one points to a very positive future for advertising. And it really shouldn’t be a shocker that mobile advertising is leading the way. What is shocking though, contrary to popular belief, is that TV advertising is reaching 85% of viewers daily. This equals up to an astonishing 73 minutes a day.

What is even greater is the willingness of smartphone users to accept and directly act on mobile ads. All the numbers suggest that mobile ads even out-perform online ads. And instead of repeating all the numbers and stats, I suggest you read the articles linked above. If and after you do read them, you’ll see why advertisers have a lot to smile about.

By splorp

The purpose of this article is meant to go deeper than simply the numbers. Numbers are great and the research is necessary. But you have to understand what’s happening beyond that. I’ve previously written about future insights into advertising and the emergence of lifestyle brand strategy, but here I will go further. Here I will write about what every advertiser and marketer dreams of: reaching every consumer, customer, buyer, individual possible.

Segmentation

Segmentation by no means is a new concept. But is it something we’ve hardly perfected. And it wasn’t something we couldn’t perfect because we didn’t understand the concept. Rather, it was something we couldn’t perfect simply because the means weren’t there before. The best we could do was clump categories and target certain audiences but even that hasn’t advanced our abilities as much as we would’ve have liked.

The problem has always been that a specific segment could only be reached by targeting the larger norm of that audience. TV, newspaper, radio and magazine ads have all-evolved significantly since their inception however not everyone watching, reading or listening was part of an ad’s consumer target or base. The broadcasting has always been too large. Online and more importantly, mobile ads have completely changed this.

Traditional vs. Post-Social Media Advertising

The greatest problem traditional advertising has had to face was customer engagement. There was no real way to tell how quickly people were reacting (unless there was an absolute boom in sales). And it was nothing that drove them immediately to jump into their cars to follow-up on that “great” deal they just saw or heard. The time of “action” to “reaction” (that’s even if there was a reaction) was quite frankly to far apart. And there were issues of how you would get people to remember and spread the message, etc.

In a post-social media environment, I would say things are drastically different. And I say post-social media as opposed to post-internet due to the fact that although the internet has advanced many aspects of advertising and our greater ability to make purchases, it faces similar issues that traditional media has faced. Social media is almost reinventing advertising.

Not only is social-media connecting directly with the consumer at the consumer’s will (though I must say Facebook is really messing this up with all it’s privacy shenanigans) but it’s engaging people immediately. The consumer response can potentially be quite powerful. With the overflow of apps and smartphones, it has never been easier to reach someone when they are in the purchasing process. And off the top of my head, I can of think a number of methods, systems and metrics that would satisfy all parties in the transaction.

It would be an understatement to say mobile advertising is taking us somewhere we’ve never been before. The reality of the situation is that it works. Customer engagement will be at an all-time high. Not only will this be a great time for consumers, it will be great for businesses. You can’t deny the fact that you wouldn’t love some kind of mobile ad giving you a great offer on something you were going to buy anyways. This will thrive with the Millennials. We love “exclusive” offers. And I don’t at all mind receiving the ads. Just don’t make the same mistakes email marketing has. No spam please, just the offer.

Introducing Lifestyle Brands: The Emerging Branding Strategy

Written on May 10, 2010 by Josip Petrusa

1 Comment

My blog post today has been inspired by the feedback I’ve received from two previous posts that I’ve written. And I’m going to expand on the ideas and insights a little further (free of charge of course). Not too long ago, I wrote a blog post called 4 Insights Into the Future of Advertising that has received some buzz. The article itself addressed what the future of advertising will look like. And I highly suggest you read it before or even after this article.

Not too long after that article, I also wrote a guest blog post on idaconcpts.com called How to Market to Millennials, which received some significant buzz. It dealt with the mysterious issue of marketing to the Millennials (or Generation-Y) demographic. Again, I highly suggest you read it before or after this article.

By Christopher Chan

The idea behind today’s article originally stemmed from a comment left by Carol Phillips but involves ideas from both articles. She suggested a 5^th insight into the future of advertising where it “may be the beginning of the end for the ‘product brand’ and a golden age for ‘lifestyle brands’.” And I completely agree with her on this. Either brands will have to transform or it will be the end of them.

Previously, brands have been an aspect of life. Something we interact with and use but most important, something we did not necessarily need for life. It seems that there is a shift occurring where brands are becoming a part of our life, representing a style of life. Some brands have all along had this aspect of “lifestyle brand” (for instance Virgin, as brought up by Carol). But there are some outlier brands that are taking this type of brand strategy serious.

Apple would definitely be the simplest and easiest one to dissect. And it’s a brand that is quite frankly apparent to everyone, regardless if they are an Apple product user or not. The fact of the matter is that Apple is simply not selling a product, it’s selling a lifestyle. A lifestyle that is being pushed by the Millennials. A lifestyle that is putting outlier brands into the mainstream.

Imagine for one second if you couldn’t use your iPhone, iPod, MacBook or iPad. The brand is not simply reflecting your lifestyle. It is becoming your style of life. We are making these products more necessary to life than they have previously been.

Though, Apple is simply a small piece in a pie that is getting larger. In a recent article, Chanel and BMW were considered top brands by Gen-Y amongst others. One thing all these brands have in common is that they are not selling you a smartphone or a purse or a car. Rather they are selling you an iPhone, a Chanel accessory and a BMW 6 Series. And it’s an aspect that dominates the Millennials way of thinking.

Rather than waiting to buy products that they can truly afford (and when I say truly I mean they are not simply working for the next thing they want to buy but actually have the capital to live that lifestyle), all Millennials want to live their dream lifestyle now. And it doesn’t really have to do with the products being luxurious. It has to do with the products being part of a dream lifestyle. It has to do with the product representing who you are and how you want to be perceived.

In the next five to ten years, we’ll all be witnesses to lifestyle branding. Some of these brands have always set themselves in that category. And there are plenty that are emerging. However don’t be surprised if you start to see less obvious brands take on this different role. After all, they are all trying to sell to you.

The Positive’s In Negative Criticism

Written on May 6, 2010 by Josip Petrusa

0 Comments

With the modern world constantly breaking ground in the ways people can communicate and spread a message, any message is always a few clicks away from being the next target of online buzz. We all appreciate the positive things that are said about us. But when it comes to negative criticism we react quite differently. Whether the reaction is defensive, offensive or just being indifferent, it all has consequences on how the situation will turn out.

With the increased use of different communication mediums such as social media and blogs, negative criticism can be a scary thing for anyone. However that doesn’t have to be the case. And you should never overreact. There are more than a few bright spots in negative criticism that can be constructed into some positive ideas.

By Svein M.

A recent article by eMarketer suggested to avoid “knee-jerk reactions”. And they are absolutely right about that. A response to any situation has to be dealt with carefully, strategically and in a manner that will put you back on top. Unfortunately there will always be consumers that are impossible to please. But if you closely look at the negative criticism you’re receiving, you can easily spin out plenty of positives from it.

No matter how great we believe something to be, there can easily be a series of problems that are overlooked. Often negative criticism gives you insight into what is currently wrong. And if the message is continually the same or even if there is enough chatter around an issue, you have the chance to fix the issue at hand before it becomes a defining characteristic of what you are. Nothing beats great customer service. And nothing beats being handed the problem so you can find a solution.

Having a problem with a product or service is not necessarily a bad thing. Knowing that you have a problem and not dealing with it can be quite costly. Hiding the problem can be even worse. And nothing stays hidden anymore. Companies like Toyota figured this out the hard way. Once, being considered to be one of the most reliable car-manufacturers has utterly put them in the same boat as “everyone else”.

Dealing with a problem can even bring you closer to the consumer. Everyone is always wondering how to build that vital relationship. By dealing with the criticism not only are you solving the problem, you are expanding your understanding of the consumer. You’re also re-establishing trust in your own product and company. And if the people are spending time to criticize you, spending time to answer their concerns will most likely bring them back. Rather than not dealing with the issue or even turning on the people buying your product, it would be a great benefit to listen to them.

After all THESE people are buying YOUR product. With increasing market competitiveness and the decrease in new customers, the same social media and blogs that are fuelling the negative criticism will ultimately be your saving grace.

The Price “Is” Right: Reinventing The Product Lifecycle

Written on May 4, 2010 by Josip Petrusa

0 Comments

We’ve all heard of the product adoption lifecycle, The Tipping Point and most recently, the influencers that exist within the online world. Whether you’re talking about the innovator, early adopter, salesman, connector, mass influencer, maven or early majority, each individual plays a role in sharing, connecting, selling and expanding on an idea. These notions have become dominate cycles that we follow. And all though they seem pretty straight forward in themselves, it’s always tougher than it seems to get the cycle going.

Today, I came across something really interesting and something I’ve only realised over the past month or two. And by no means am I suggesting it’s an answer to anything but it’s definitely something worth considering.

The Price “Is” Right

By belTRON

What I came across involves one of our most beloved day-time game shows, The Price Is Right. The show has always caught my eye for the potential it had for building a relationship between the product and the consumer. For the longest time, the products on display were everyday typical items you would find in and around the ideas of “family” and “household”. Whether it be food, a lawn mower, a trip and maybe even a car, the products were very traditional.

But recently, I’m seeing electric luxury cars from Tesla Motors. The introduction of very fashionable clothes and accessories from BCBG. And the domination of computer, smartphone and mp3 products from Apple. And most notably, the product that caught my attention today, the iPad. The interesting aspect is not the fact that advertising these products has come down this avenue. But rather the idea of advertising it to individuals that are considered and suppose to be “everyday people”.

Reinventing the Cycle

To many of these individuals, winning anything on The Price Is Right would be extraordinary. But now they’re being introduced to products that they potentially never have had the ability to purchase or even think about purchasing. They are definitely not the segment that would be out there wanting the hundred thousand dollar electric car or specifically wanting an electronic pad that costs hundreds of dollars.

And though these individuals might not make up the typical segment that these products would target, TV shows like The Price Is Right are reinventing the innovator, early adopter, salesman, connector, mass influencer, maven and early majority. Previously, only certain individuals would fall into these roles with everyone else falling into place behind them. Now, seemingly anyone could be placed into these roles.

The Reinventor

The individual today that correctly bid for the two iPad’s will undoubtedly have an effect on those around them. Even more so an effect if they were to fall into the early majority or late majority segments. They become the proponents of a cycle within a cycle. They are the innovators and early adopters within the majority. They now become the mass influencer. They change the aspects of The Tipping Point.

These individuals, the Reinventors, are utterly effected by advertising methods produced on The Price Is Right. In turn, they will effect all those around them. Instead of looking for the individuals that are considered key components of these different cycles, why not break the cycle and make anyone a key component. The Reinventor has an unique and interesting role. But be wise to who you choose and where you choose to reinvent. Giving away products will not have an immediate effect that everyone so glamorously would like. Though it will have an effect.

23 Things You Must Know About Gen-Y

Written on April 13, 2010 by Josip Petrusa

5 Comments

We’ve all heard of Baby Boomers and Gen-X. And we can all somehow describe one and the other. But when it comes to Gen-Y, there are few who can explain or even understand this generation, including those that make up Gen-Y. By the way, I’m Gen-Y.

So here are a few things I’ve picked up on. These are 23 things that you must know about Gen-Y. It might help you figure us out.

Individuals born between 1980 to about 2000 make up Generation Y, give or take a few years based on different opinions.
We rival the Baby Boomers in size.
Estimates suggest we are to become the largest generation in terms of spending power.
We are, arguably, the first global generation.
Gen-Y is completely and utterly connected to everyone thanks to the internet, social media and different forms of mobile communication like cell phones, smartphones and laptops.
I got my first cell phone in high school, approximately grade 12. The latter half of Gen-Y is getting smartphones as early as grade 8 and 9.
Gen-Y is also referred to as Generation Y, Millennials, Generation Me and anything else that would constitute the ideas of “self” and “now”.
By Leonard John Matthews
We believe we deserve everything, contrary to what our elders might think.
We believe we can do anything, contrary to what our elders might think.
At home, I have access to the web through at least 6 different ways.
We surf the net as much as we watch TV.
Radio?! What’s radio?!
We’re career mercenaries. 30-year careers with one organization will be few and far between. Career loyalty goes to the the highest bidder. We like to make the rules.
We don’t want to wait for anything. We want it now.
Generation Z is the generation after Gen-Y. What an interesting bunch they’re going to be.
Gen-Y is super opinionated (highly opinionated would be an understatement). A personal opinion goes further than advertising dollars do.
We will never fax a CV or apply for a job in person.
It’s about what you know, who you know and who knows you (I must admit, the last one I have to credit to a great friend of mine).
We grew up watching Seinfeld, Friends, Fresh Prince of Bel-Air, Married with Children, etc. We still watch Seinfeld, Friends, Fresh Prince of Bel-Air and Married with Children.
I can’t remember the last time I used MSN. Does anybody??
Gen-Y loves credit. We’ll care about our credit rating when we have to.
We want our own car, laptop, digital camera and so on. Doesn’t matter if there is already access to a car, laptop or digital camera and so on.
Gen-Y talks, texts, posts, shares, updates and does anything else that involves having a detailed and communicative relationship.

Although these 23 characteristics are a glance at a generation, they don’t conceptualize everything we are. Gen-Y is dynamic as any other generation but the times are accelerating through a variety of dimensions faster than we’ve ever seen in this technological revolution.

What does this mean for Gen-Y in the next 5, 10 and 20 years? Further, what will it say about Gen-Z?

Toronto: The Floor Plan for Future U.S. Marketing Campaigns

Written on March 30, 2010 by Josip Petrusa

0 Comments

Anyone living in Toronto or the surrounding Greater Toronto Area, otherwise known as the GTA, is use to multiculturalism and all the aspects of it. Many of us have proud cultural heritages, which is a great characteristic of our immense immigrant population and history. This has given us the joy and privilege of having the world at our doorstep. Talk about the great restaurant choices, amazing events throughout the year and the diverse set of ideas that make up this wonderful mosaic of cultures.

By Intiaz Rahim

As of 2006, 47 per cent of Toronto’s population considered themselves to be part of a visible minority. Not only is it one of the fastest growing demographic trends in Toronto but also throughout North America. Even though the U.S. won’t see these percentages until around 2050, and this is not to say the U.S. doesn’t have great multicultural centres itself, Toronto however represents a city that is culturally elaborate with no other city like it. And although it doesn’t completely represent every other Canadian city, Toronto is representative of this growing trend in other major metropolitan areas in Canada and this puts Toronto in a great position.

We are a multicultural hub of information that is priceless and the potential is extraordinary. Toronto, along with many major parts of Canada, will be at least a half a century ahead of the U.S. in terms of understanding this trend. How could we not be when 1 out every 2 people is considered to be part of a visible minority. And although this might seem like a mundane topic to you, the estimated potential for business is extraordinary with the dollar numbers to be in the billions.

Toronto will be the floor plan for future U.S. marketing campaigns. It will be a leading centre for understanding a world that itself is slowly becoming more multicultural. Understanding our own consumer insights will be incredible knowledge, especially when it comes to understanding all the different cultural segments that exist. It isn’t something that is readily available but it is something Toronto has been a part of, for what has seemed like, forever.