Generation can be defined as all of the people who living and born at about the same time. It can divide into 4 generational categories. There are Baby Boomers, Generation X, Generation Y and Generation Z. In this assignment, we are going to describe and compare Generation X and Generation Y this two generation. Generation X also referred to as Xers and Baby Busters, it includes those people born from 1965 to 1981. It is one of the most educated, tech savvy and high divorce rates generations. They are not necessarily materialistic, but they do consume branded product, although not necessarily designer labels. Therefore, if the marketers want to target them they will needed to focus on their style language, music and fashions.
According to American research, members of this generation do not like labels, are cynical and do not want to be singled out and marketed to. They matured during an era of rising divorce rates and ‘latchkey children’, also, unlike their parents, who are frequently baby boomers, they are in no rush to marry or start a family. For generation X consumers, job satisfaction is typically more important than salary. It has been said, for example, that baby boomers live to work but generation X work to live! Generation X reject the values of older co-workers who might neglect their families while striving to secure higher salaries, career advancement and may have observed their parent being made redundant after many years of loyalty to an employer. Therefore, generation X are not particularly interested in long term employment with a single company: instead they prefer to work for a company that can offer some work flexibility and can bring some fun aspects into the environment.
Generation X understand the necessity of money but do not view salary as a sufficient reason for staying with a company is the quality of the work itself and the relationship built on the job are much more important. For generation X, it is more important to enjoy life and to have a lifestyle that provides freedom and flexibility. (Leon et al. 2008) Generation Y also referred to as Echo Boomers, Millennials and Yers, it includes those people born from 1984to 2002. It was the generation which are internet generation, comfortable with digital technology, excellent on multi tasks, creative, impatient people, high expectations and travel adventure. ( Solomon, 2012 )
Generation Y has grown up with the internet and in a media saturated environment. For example: nowadays many of these young people having their own phone and using it to go through social media, listen to music, watch movie and online shopping. Therefore, Generation Y are the people good in technology, easily influence by social media and do research before making decision. In addition, because of their grow up environment Generation Y will prefer online shopping. For example: Generation Y will purchase the dress from Lazada because she saw the advertisement at Facebook.