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The purpose of this study is to further and more accurately characterize the Millennials as consumers, attempting to establish a better understanding of their attitudes and, most of all, their buying and decision making behaviors when looking for a certain product or service, which ultimately results in an improvement of the marketing techniques brands should use when targeting this powerful generation.
It is then essential to study the way Millennials see themselves and compare these views with the perceptions of others (such as older generations), to better develop an idea of who this powerful generation is, so that adequate conclusions regarding their characteristics can be developed, aiming to gathering knowledge about what encourages them to engage with brands.
Therefore, this dissertation aims to provide helpful information regarding the characterization of this generation, with the main objective of allowing brands to be more effective when trying to build and manage relationships with the Millennial consumer.
The results presented throughout this dissertation show that, in spite of having a focus on the Portuguese population, the existing literature isn’t one hundred percent accurate in the depiction of Millennials, which might have some implications when trying to reach and establish relationships with them. Furthermore, this study comes to prove that Millennials will have a more positive, and sometimes even unrealistic perception of their own characteristics, especially when confronted with the perceptions of other members of society, such as older generations, that, for a large part, consist in members that run the businesses that sell the services and goods Millennials acquire. This can represent a problem for the brands marketing towards this generation since it becomes highly difficult to characterize such a target and, therefore, said brands might be focusing on characteristics that don’t necessarily correspond to the reality, which might not have a positive effect in the establishment of relationships with this generation.
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Generations Millennials Marketing Technology savviness Brand loyalty Social concern Environmental responsibility Digital marketing Status consumption Portugal