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The Millennials: Insights to Brand Behavior for Brand Management Strategies

Author

Listed:
  • Babijtchouk Olga
  • Dames D. David
  • Gehan S. Dhameeth
  • Sleezer Adam
  • Smith Elliott

Abstract

Millennial generation has surpassed generation X and Baby Boomers in terms of population (market) size and standout to be the largest market segment. This demographic change will undoubtedly be an opportunity for marketing and brand managers to reach, acquire, and retain Millennial market to achieve organizational profitability. Prior research has not been successful to provide a detailed understanding of Millennials and their degree of brand loyalty over prior generations. In this article, the authors used Kevin Lane Keller¡¯s work (Brand Resonance Pyramid 2009) to test the degree of brand loyalty of Millennials over prior generations and the degree of brand resonance that predicts the brand loyalty while this relationship is moderated by the generation. In addition, they determined how the elements of the brand pyramid relate to each other. In this study, the authors administered an online survey using SurveyMonkey to reach local (US) and international college/university respondents (n=267) age 18 years and above. The survey was administered using a questionnaire (46 data points). Linear Regression and Partial Correlation were used for analysis. The authors find that Millennials and Generation X/Boomers are not significantly different in terms of brand loyalty, brand resonance is a strong positive predictor for brand loyalty, and finally, the relationship between brand resonance and brand loyalty is weaker for Millennials than for Generation X/Boomers.

Suggested Citation

  • Babijtchouk Olga & Dames D. David & Gehan S. Dhameeth & Sleezer Adam & Smith Elliott, 2018. "The Millennials: Insights to Brand Behavior for Brand Management Strategies," Journal of Management and Strategy, Journal of Management and Strategy, Sciedu Press, vol. 9(3), pages 1-17, August.
    • Handle: RePEc:jfr:jms111:v:9:y:2018:i:3:p:1-17
    DOI: 10.5430/jms.v9n3p1
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    References listed on IDEAS

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    1. J.J. Brakus & B.H. Schmitt & L. Zarantonello, 2009. "Brand Experience: What Is It? How Do We Measure It? And Does It Affect Loyalty?," Post-Print hal-00799102, HAL.
    2. Aaron M. Garvey & Frank Germann & Lisa E. Bolton, 2016. "Performance Brand Placebos: How Brands Improve Performance and Consumers Take the Credit," Journal of Consumer Research, Oxford University Press, vol. 42(6), pages 931-951.
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