Millennial Generation's impact on small business marketing landscapes

Abstract

With the rise of a new generation, businesses are encountering an ever-changing market unlike any history has seen before. Generation Y presents a profound opportunity for small businesses in many ways, as this generation's values and means of communication are different from any before. It is all the more important that business owners recognize the tremendous power this changing landscape can have on marketing techniques, and implement them carefully in order to capture the market share necessary to stay alive in the competitive marketplace. This article attempts to analyze the changing business landscape influenced by the Millennial Generation and how this generation impacts the competitiveness and marketing exploits of small businesses. This paper also seeks to further understand the Millennials "mind-set" and includes a more in-depth look at some setbacks and successful media strategies for targeting Generation Y. Resources for this is a compilation of scholarly articles, blog posts by respected marketing experts, and research studies which all truly exemplify how small businesses may harness their full potential with Millennials in the market place to ultimately greater compete with larger corporation and other competition in the market.