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What is meant by youth culture:
As per youth culture can be defined as young adults (a generational unit) considered as a cultural class or subculture. Today this can be said of those who belong to Generation Y. According to Cui, Trent, Sullivan and Matiru (2003), Gen Y, children born to baby-boomers, is widely considered to be the next big generation. Businesses are therefore struggling to find ways to capture a piece of this market. So in practice, generation Y is generally defined as the 71 million individuals born between 1977 and 1994 (Nayyar, 2001; Paul, 2001). While currently somewhat smaller than its predecessor generation, the baby-boomers (estimated at 78 million), Generation Y is the emerging generation with powerful aggregate spending.
Defining ‘youth market’ through segmentation variables:
Market segmentation is the process that companies use to divide large heterogeneous markets into small markets that can be reached more efficiently and effectively with products and services that match their unique needs.
The key task of a marketer prior to the segmentation process is to find the variable, or variables that split the market into actionable segments
There are two types of segmentation variables:
(1) Needs
(2) Profilers
The basic criteria for segmenting a market are customer needs. To find the needs of customers in a market, it is necessary to undertake market research.
Profilers are the descriptive, measurable customer characteristics (such as location, age, nationality, gender, income) that can be used to inform a segmentation exercise.
The most common profilers used in customer segmentation include the following:
Geographic