Probe - Accounting, Auditing and Taxation

The intergenerational differences in digital consumption behavior and the dynamic adaptation mechanism of marketing mix

Jingxuan Tang

University College Dublin, National University of Ireland

DOI: https://doi.org/10.59429/paat.v7i2.10290

Keywords: Intergenerational consumption behavior; Marketing mix; Dynamic adaptation; Digital consumption

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Abstract

Objective: To study the dynamic adaptation mechanism of marketing mix for intergenerational differences in digital consumption behavior, and explore the influence of demand differences among different generations in digital consumption on marketing strategiess.Methods: A multi-objective optimization model was adopted to simulate the consumption behaviors of Generation X, Generation Y and Generation Z.The consumption preferences of different generations and the fit degree of marketing mix were evaluated based on big data analysis.Results: The experimental results showed that Generation Z had the highest sales growth rate (18%) with the most proactive technology acceptance and interactive needs; Generation Y had the sales growth rate of 12% with stronger demand for personalization and brand interaction; while Generation X was more price-sensitive but had relatively smaller market potential (sales growth rate of 5%).Conclusion: Marketing optimization recommendations for different generations are proposed based on generational differences.Firms should flexibly adjust their strategies in product, price, channel and promotion according to different generations, so as to improve the market responsiveness and consumer satisfaction.

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