Abstract:
Innovation and technology propel in an explosive rate and utilization of marketing
strategies should be based on generational profiles. The aim of this study is to
review the purported qualities of personality traits of Generation Y and Generation
Z, recommending mangers in utilization of profile responsive strategies of
marketing using Big Five Personality traits. The study relies on qualitative
approach, where emergent themes were revealed from secondary resource reviews,
articles, journals and identifying the manager’s perspective towards generational
profiles by conducting a series of interviews on semi-structured question setting
with marketing managers. Results revealed that the value for technology,
innovation, freedom, and diversity varied across the generational profiles and
managers across vivid industries comprehended the significance of applying
divergent marketing techniques to Generation Y and Generation Z independently.
Edutainment, tech savvy, honest and transparency were emerging personality traits
explored through the study regarding the two cohorts which was a significant
finding. Impeccable knowledge gained from the study can be utilized by managers
to develop compelling strategies considering Generation Y and Generation Z
cohorts bridging the knowledge gap existed in the context facilitating managers to
effectively communicate. Edutainment and maintaining corporate responsibility
through marketing communications is an eyeopener to the marketers to reach the
consumers effectively by minimising the cost to reach. A novel study in the Sri
Lankan context exploring big five personality traits of Generation Y and Generation
Z that can have a sequel of social media approach and marketing by managers
addressing generational profiles. The study widened the knowledge that can be
recommended to managers to enrich their marketing strategies to be meaningful for
customers.
