It is not only the HP computers that are cashing in on the price sensitiveness of persons in their 20s and 30s, but nearly all the consumer packaged goods makers are following the suit.
Hewlett Packard (HP), which has been in the technology business since 1938, has gone loud by giving off up to 60 per cent discounts on its lineup of brands together with free shipping. At its home page, ‘Presidential Sale: Save up to 60 per cent plus free shipping’ is flickering to catch the attention.
HP’s pricing strategy is aimed generally to hook up with discount seekers. However, price-consciousness of millennials—persons born in between 1981 and 2000—makes them engaged in discount promotions of technology solutions.
“Their comfort-level with the Internet and technology in general makes the digital medium an ideal platform for reaching these individuals,” said comScore vice president Bert Miklosi.
And, no one can underestimate the vastly lucrative market formed by this generation.
“The 79 million millennials in U.S. have an estimated purchasing power of $170 billion per year, making them a highly attractive segment for brands,” added Miklosi in its report titled ‘Next-Generation Strategies for Advertising to Millennials’. Total e-retail spending was no more than $161 billion in 2011.
About the personality characteristics of the generation, the report said they are not easily submissive to advertising. Impressive copy is perquisite to persuade and convince them into making a decision, according to the report.
There is a need to just push them into thinking in favor of an advertised brand as they are already involved in the marketing content.
Plain text that seems close-fisted in eloquence or cliché in expression fails to win the attention. However, it also depends on where the message is coming from. HP’s discount promotion merits little words to arouse action.
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