"Do you remember the last time you targeted a marketing plan at 'millennials'? If you think that generational segmentation such as 'millennials' or '
'If you think that segmenting your campaigns makes them more effective, you might be mistaken. According to the Pew Research Center, these segments are more of a hindrance than a help in understanding the consumer.'
The influential Pew Research Center has recently made a crucial decision: it will no longer use generational terms such as 'millennials' or 'Gen Z' to describe different cohorts of society. This is the result of years of discussion and research into the effectiveness of such segmentation methods. Kim Parker, who is responsible for this decision, indicates that age and changing demographics play a much larger role than previously assumed. The main point she makes is that today's young adults do not significantly differ from young adults in previous generations.
This development will send shockwaves through marketers who are accustomed to using generational segmentation. Companies will need to reconsider their approach to target segmentation. A wide range of marketing strategies, from product development to advertising, will be affected by this shift in thinking. The lack of support for generational segmentation could lead to inefficient marketing plans and missed opportunities.
The Pew Research Center suggests an approach that is more focused on current behavioral and attitudinal variables rather than generational segmentation. Marketers should therefore first focus on variables such as behavior (like consuming certain products) and attitude (for example, introverted individuals) before looking at demographic data. It is also crucial to remember that diversity exists within generations and that it is incorrect to make assumptions based on an individual's age. Failing to do so can lead to ethical and political inaccuracies.