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An executive summary for managers and executive readers can be found at the end of this article.
Introduction
Generation Y is a unique and influential consumer group whose behavior is often discussed but not fully understood ([13] Drake-Bridges and Burgess, 2010; [56] Racolta-Paina and Luca, 2010; [44] Noble et al. , 2009; [58] Smith, 2012). Heavily influenced by technology and the internet, this consumer cohort has evolved differently from previous generations making, it a challenging group to target ([37] Lester et al. , 2005). Previous research has examined Generation Y in various contexts, however, theoretical and empirical research about its psychographic profile is limited ([70] Yu, 2011). Increased interest in identifying aspects of Generation Y that differentiate them from previous generations has been called for ([24] Hauw and Vos, 2010); however, the present research represents work that characterizes Generation Y on a segmented basis.
A contribution to the segmentation literature can be made by undertaking research that is both theoretically based and that can provide specific information about the psychographic profile and media behavior of Generation Y. Managers believe that the consumers who comprise Generation Y are distinctly different in many ways from Generation X or the Baby Boomers ([47] Pesquera, 2005). The behavior of this cohort is certainly distinguishable and unique to the generation ([25] Hershatter and Epstein, 2010). The literature suggests that Generation Y is more than three times the size of Generation X, and it is the largest consumer market in America since the Baby Boomers ([38] Ma and Niehm, 2006; [43] Neuborne, 1999; [42] Nayyar, 2001; [46] Paul, 2001). Generation Y has approximately than 83 million members in the USA who were born between 1977 and 1996, although the exact dates vary among researchers with some using the time frame from 1981 to 1995 ([59] Solka et al. , 2011). Given the value of Generation Y to marketers, it is important to understand the psychographics and media behavior of this cohort ([61] Swinarski et al. , 2010). Specifically, five research questions are addressed in this paper:
What are the primary VALS segments of Generation Y?
What are the media habits of Generation Y?
How do Generation Y media habits vary by VALS segments?
Do media habits differ by gender?
Do Generation...