Understanding Generation X ... Boom or bust introduction.

The central tenet of marketing is the exchange relationship. Simply put, marketers provide benefits, outcomes, or solutions sought by consumers. In the interest of a targeted marketing effort, marketers attempt to profile each segment. The diversity of the American marketplace continues to undergo

   They have trouble making decisions.
   They would rather hike the
   Himalayas than climb a corporate
   ladder. They have few heroes, no
   anthems, no style to call their own.
   They crave entertainment, but their
   attention span is as short as one zap
   on the TV dial. They hate yuppies,
   hippies, and druggies. They postpone
   marriage because they dread divorce.
   They sneer at Range Rovers,
   Rolexes, and red suspenders. Things
   they hold dear are family life, local
   activism, national parks, penny loafers
   and mountain bikes. They possess
   only a hazy sense of their own
   identity but a monumental preoccupation
   with all the problems the preceding
   generation will leave for
   them to fix.

The above description appeared in a Time magazine cover story outlining the coining of age of Generation X (24). This group has also been referred to as the Baby Busters, Twenty-somethings, YIFFIES (young individualistic freedom-minded few), the Brash Pack, FLYERS (fun-loving youth en route to success), the NIKES (no-income kids with education), the indifferent generation, and the invisible generation (16).

A marketer's relative success or failure in dealing with any particular segment is a function of achieving an understanding of the uniqueness of that particular consumer group and proper manipulation of the marketing mix. The purpose of this manuscript is to improve our collective understanding of Generation X as a market segment. All generations are shaped by their experiences. The experiences of Generation X are presented first. Next, some of the popular myths surrounding this group are examined. Finally, a list of "what-to-do's" and "what-not-to-do's" is advanced to assist in the marketing to Generation X consumers.

Just What Is Generation X?

Coming on the heels of the well-known Baby Boomers (those born between 1946-1964), Generation X represents over 50 million people born between 1965 and 1978 (7). Some demographers contend this period should be expanded to include 1961-1981 in order to encompass those with similar life experiences (22). When using this classification system, we realize that X'ers outnumber the Baby Boomers, and have done so since 1980 (17).