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Many marketers today believe that for any business to succeed, your strategy to target millenials should be effective. Is it true or just over hyped?
I tend to disagree as it should largely depend on the product . Each product has its own set of customers and one cannot focus with a single market strategy as the other segments are equally large enough.
Millenials is just a term given to those who were born in 1990s. The youth today are the Millenials. Talking about India, currently it has the highest number of population of Millenials. Seeing India as a developing country with huge growth potential, mostly all the companies are trying to capture customers here. I agree with Abhirup Sir that it depends on whom you are targeting. But even if you are currently serving different set of customers, Millenials is a segment companies don’t want to ignore and for that companies come up with different value proposition for Millenials. They target them with different set of values.
On a different note, most of these millenials have the purchasing power and can be an obvious target for the marketers. It surely depends upon your product offerings but doesn’t it mean that you ignore this hen laying golden eggs. Should a company not having milenials as target audience increase its share of the pie or go ahead in increasing the size of the pie?
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