WATCH OUT FOR GENERATION Z! – A Qualitative Research About Generational Differences and Similarities Towards Influence Marketing within Lifestyle Brands

Sammanfattning: The purpose of this research is to investigate Generation Y and Generation Z and their relation and approach to influence marketing and what challenges these generations’ preferences and behaviors could generate for managers within lifestyle brands. The research question this study is aiming to analyze is: What role do generational differences play in influence marketing and what are the potential managerial challenges for lifestyle brands? To conduct the purpose of this research, a qualitative method has been implemented. The research has contained focus groups for both Generation Y and Generation Z, personal interviews with managers within lifestyle brands as well as an abductive approach with relevant literature and theories of the subject. In recent years, the Internet has increased in accessibility, reach and openness, which has also increased the usage of social media, in which influence marketing has been an essential marketing tool. Influence marketing is a tool for companies to promote their brand through influential individuals on social media channels. Two generations that is consuming this marketing tool is Generation Y and Generation Z. Generation Y is driven by self-fulfillment, identity creation, social acceptance and the feeling of belongingness. While Generation Z is, instead, driven by image creation, to be considered cool and unique and to stand out from the crowd. The result of this research showed various challenges for managers to be aware of when reaching out to Generation Y and Generation Z. Primarily, one of the identified managerial challenges is to understand that the generations are not equal and it is needed to understand their characteristics in order to satisfy the cohorts at the same time and to be able to make accurate decisions. Additionally, the growth of Generation Z is identified as a vital managerial challenge due to their digital standards, selective preferences and conscious attitude.