The Future of Media Consumption, Measurement, and Platforms
Affluent Gen Y: Media Survey with McKinsey & Company senior editor Robert Mertz.
This half-day L2 clinic helps managers navigate seismic shifts in technology, media, and consumer behavior to build robust media plans for their brands that are dynamic in nature and ROI accountable. The clinic covers industry-wide trends in digital and social media, best practices in online media planning and tactical suggestions for allocating media spending in 2011.
Scott is a Clinical Professor of Marketing at the NYU Stern School of Business, where he teaches brand strategy and luxury marketing, and is the founder of L2, a think tank for digital innovation. Scott is also the founder of Firebrand Partners, an operational activist firm that has invested more than $1 billion in U.S. consumer and media companies. In 1997, he founded Red Envelope, an Internet-based branded consumer gift retailer. In 1992, Scott founded Prophet, a brand strategy consultancy that employs more than 120 professionals in the United States, Europe, and Asia. Scott was elected to the World Economic Forum’s “Global Leaders of Tomorrow,” which recognizes 100 individuals under the age of 40 “whose accomplishments have had impact on a global level.”
Scott has served on the boards of directors of Eddie Bauer (Nasdaq: EBHI), The New York Times Company (NYSE: NYT), Gateway Computer, eco-America, and UC Berkeley’s Haas School of Business. He received a B.A. from UCLA and an M.B.A. from UC Berkeley.
Robert Mertz is a senior editor at McKinsey & Company where he edits journals focused on microfinance and climate change, runs a digital business ideas newsfeed, and works with industry and functional practices to manage their knowledge. He has a BA in literature from the University of Michigan and PhD in literature from SUNY at Buffalo.
Robert Metz advises luxury brand marketers based on a study of the behaviors of affluent members of Generation Y. He encourages brands to think of themselves as media companies. "Start thinking about your customers as your audience," says Metz. "Give them refreshed and compelling content, but also listen to them. Let them applaud. Let them boo."
Activities that direct the flow of goods and services from producers to consumers. In advanced industrial economies, marketing considerations play a major role in determining corporate policy. Once primarily concerned with increasing sales through advertising and other promotional techniques, corporate marketing departments now focus on credit policies (seecredit), product development, customer support, distribution, and corporate communications. Marketers may look for outlets through which to sell the company's products, including retail stores, direct-mail marketing, and wholesaling. They may make psychological and demographic studies of a potential market, experiment with various marketing strategies, and conduct informal interviews with target audiences. Marketing is used both to increase sales of an existing product and to introduce new products. See alsomerchandising.
Thank you for the video clip. In connection with generation Y, please allow me to share significant information here. Basically, millennial or generation Y are born in the mid-1980's. Therefore, Gen Y are legal professionals who are in their 20's and are just entering the workforce. They are also considered anti-consumer. I believe that one of the reasons why they are considered as the "generation of anti-consumers" or they are hard to sell products because Generation Y are pessimistic about financial future . Yes, you read it right! Economic recession played a huge factor for this. According to a recent survey, most of those who came into adulthood during the Great Recession are already worrying too much about retirement, and so they are not confident that they will have money in the near future. That is why, albeit this generation are tech-savvy, they are still tight with regard to budget.