| Description |
Millennials have become the largest segment of consumers in the United States as of 2019, surpassing the Baby Boomer generation by over half a million people. Generation Z, while not as large in size, has become a driving influence in targeted marketing segmentation because of how influential their purchasing behaviors are on dictating market trends. These two generations share similar psychographic attributes which have been used by brands as insight to effectively target generational segmentations. With these two younger generations on the rise in terms of purchasing power, the values, lifestyles, and attitudes of Generation Z and Millennial populations need to be represented within the advertising that brands are creating. The Coca-Cola Company is an example of a brand that has become known for the effective use of psychographic attributes to target generational segmentation within their ad campaigns. Through market research into current psychographic attributes relevant to Generation Z, Millennial, Generation X, and Baby Boomer populations, as well as administering a survey analyzing the perceptions that these generational populations have towards the Coca-Cola brand and marketing, this study helps to determine if any of these generational segmentations are not effectively being targeted or reached. In this thesis, the results of the survey are used to draw conclusions that identify the effectiveness of the advertisements that The Coca-Cola Company creates, as well as provide insight into consumers' responsiveness to these generationally targeted advertisements. |
