The Characterization Of Cohorts: A Review Of Generations Y & Z

Abstract

Today, when social diversity is more evident than ever and social dynamics are volatile as ever, the biggest challenge before a marketer is to devise an effective and comprehensive scheme of segmentation in order to reach the right audience for her offer. Generations sew the social fabric all over the world and the social
setting where multiple generations reside together is indeed a challenge encompassing multitude of opportunities for the marketers. Present paper endeavors to understand the concept of generation and various terms used to classify the cohorts. Moreover, it aims to delineate the characteristics or features of
these cohorts in an attempt to offer a generalized picture for marketers to base their marketing strategies upon. In order to avoid losing focus and producing just a generalized snapshot of various generations, this paper focuses upon generations Y and generation Z who are the most active customers and consumers in today's market place. A thorough and comprehensive review of existing literature demonstrates that both the generations share common traits on account of most of the parameters of comparison. However, there are particular characteristics of each that render them uniqueness and a distinct personality and these
characteristics have been summarized at the end of the paper to offer a succinct account of comparison between generation Y and Z.