Exposing the Millennial Myth – What’s the real deal?

Jun 13, 14 Exposing the Millennial Myth – What’s the real deal?

Posted by in Total Market

By Cassandra Bremer, Content Manager and Developer at The San Jose Group Quarterbacks throw Hail Marys; hockey players pull their goalies; advertisers post viral videos. Sure, viral videos have their place—views boost recognition, keep brands top-of-mind, increase SEO and occasionally bring viewers back to the brand’s website for those coveted conversions. However, when brands develop videos as last-ditch efforts to win over the young, social media-obsessed and self-absorbed Millennial consumer group (roughly speaking, those born in the ‘80s and early ‘90s), they’re wasting their resources. According to The National Chamber Foundation’s “Millennial Generation Review,” this generation, 80 million strong, has a $200 billion direct purchasing power, $500 billion indirect spending power and will outspend the Baby Boomers by 2017. As such, marketers are on the Millennial treasure hunt, and every Millennial obstacle (i.e., increased mobile technology use, decreased attention span) has brands on the quest creating new advertising avenues. However, they largely misunderstand the true Millennial market, so the loot they’re trailing is little more than fool’s gold. Opportunities to win a greater portion of their spending power exist only once brands shed their stereotypes. Although TIME characterizes Millennials as “Lazy, entitled narcissists who still live with their parents,” the reality—in most cases—is quite the opposite. While Millennials are not carbon copies of their parents, they do share a plethora of similarities with the Baby Boomers and Generation X, including education and families. In a recent study, “Millennials as New Parents,” Barkley found that older Millennials (ages 25 to 34) actually are, contrary to popular beliefs, hard-working and family-focused: 63% are married with children, while 44% are “very financially stressed.” So with their families in mind, they’re not working to splurge entire paychecks on the latest and greatest trends. In other words, Millennials aren’t the types of consumers brands think they’re targeting. The narcissistic, social media obsessed, younger spenders concerned with keeping up with the Jones, Kardashians and everybody in between are a part of the mix, but according to Maureen Morrison, they only make up...

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Latin America: The China of 2020 and the Booming Healthcare Industry

Jun 06, 14 Latin America: The China of 2020 and the Booming Healthcare Industry

Posted by in Latin America

Employee healthcare requirements could impact American companies’ decisions to expand their business to the global market. Latin America is moving fast towards a healthcare system that resembles our own and will surely facilitate management of this critical aspect for U.S. companies that recognize the ample business opportunity to invest in Latin America. Throughout the last few decades, healthcare systems in Latin America have experienced activity and popularity surges among both international and domestic citizens. Affordable and accessible public-private healthcare initiatives and partnerships define a healthcare system model that efficiently serves a major market and is set to transcend all others in the near future. Latin American countries already exhibit relatively high rates of public participation in their respective healthcare systems. As an example, the institution of a particular family health plan in Brazil recently contributed to the expansion of healthcare participation to nearly 70% of the population. Similarly, recent reports show that Colombia and Chile both posted increased health care participation rates: 73% and 80% respectively, compared to the U.S.’s healthcare participation of roughly 83%. These high rates of both public and private health insurance participation are trends that will only increase with the rising Latin American middle class and with economic progress in the region. Latin America’s population growth accompanies increasing access to health professionals and facilities in many Latin American countries. In Brazil, Chile and Mexico, the number of medical schools and health facilities has grown quickly in the region over the last century. The ratio of doctors in Uruguay (3.65) and in Argentina (3.01) rose just above the ratio of doctors in OECD countries, such as Canada (2.14) and the United States (2.45) according to data from the WHO . Thus, the breath of medical resources as well as the reduced cost of health care services available in many Latin American countries presents points of investment for American companies everywhere. Clearly, this critical aspect of employee healthcare can be effectively managed within many Latin American countries and that the structure of...

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