Status Consumption vs. Sustainable Consumption - Millennials' Consumer Behavior and Their Future Potentials and Challenges for Marketers

  • Understanding consumer behavior is a crucial task for businesses as it is fundamental to analyze and implement successful marketing strategies. The following Bachelor thesis investigates the consumer behavior of Millennials, a consumer group that, due to its size and unique consumer patterns, has become ever more interesting for businesses in recent years. Firstly, this work gives an overview of the necessary steps to analyze consumer characteristics to understand the main concept of consumer behavior as analyzing consumer characteristics forms the basis of developing and finally implementing appropriate marketing strategies. Secondly, as modern technologies play an important role in consumer behavior, this Bachelor thesis analyzes the influence of advanced technological marketing tools on consumer behavior in greater depth. Thirdly, this paper takes a closer look at the millennial generation, thereby focusing on its distinct consumer behavior and its importance for businesses and societies – across time as customers as well as employees. To understand the significance of the millennial customer segment, it is not only important to contrast the consumer behavior of Millennials to those of other generations but to also get familiar with the Millennials’ main characteristics that define their consumption patterns such as their focus on status and sustainable consumption. Finally, this Bachelor thesis outlines potential opportunities and challenges for marketers today and in the years to come and provides suited recommendations on how to effectively target the millennial customer segment to best meet the expectations of Millennials.

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Metadaten
Author:Stephanie Möbius
Advisor:Paul Taylor
Document Type:Bachelor Thesis
Language:English
Year of Completion:2018
Granting Institution:Hochschule Furtwangen
Release Date:2018/08/29
Tag:Consumer behavior; Millennials
Degree Program:IBW - Internationale Betriebswirtschaft
Functional area:Marketing
Licence (German):License LogoEs gilt das UrhG