Nothing Special   »   [go: up one dir, main page]

Millenial Consumer's Perception

Download as pdf or txt
Download as pdf or txt
You are on page 1of 8

EOI 10.

11229/researchdirections/May19/71
ISSN NO – 2321-5488 UGC Journal. No. 45489 Impact Factor – 5.11
Vol: 7 Issue: 1 May 2019
MILLENNIAL CONSUMER’S PERCEPTION TOWARDS MEMES MARKETING

Syed Mohamed Sadath1 Dr. S. Shanmugasundaram2


1
Research Scholar, Department of Business Administration, Annamalai University, Annamalai
Nagar,Chidambaram- 608002, Tamilnadu, India
2
Assistant Professor, Department of Business Administration, Annamalai University, Annamalai
Nagar, Chidambaram- 608002, Tamilnadu, India

Abstract
In modern times, social media is playing a momentous role in endorsing a product or a brand.
Memes marketing is an innovative and extravagant form of social media advertising that is being
presently focused on by several businesses. This study has been steered among the millennial
consumers with an attempt to investigate if the independent variables like gender and
educational qualification have an impact on the perception towards memes marketing, followed
by purchasing behavior and business social media page following. This is a descriptive study
that used convenience sampling technique to collect primary data from 217 respondents using a
structured questionnaire. Statistical tools including Mann–Whitney U test, Kruskal-Wallis test
and Percentage analysis have been deployed to report the major findings. The outcomes of this
study would support businesses in computing the impact of Memes marketing among the
millennial consumers and formulate appropriate strategic advertising plans on social media
platform.

Keywords: Memes Marketing, Memes Advertising, Millennial Consumer’s Perception

Introduction
In the modern days, the usage of social media has increased due to newest development
of technology and availability of low-priced smart phones. Around 3 billion people in the world
are involved in social media usage every month (Global digital report, 2018). Hence, the
marketers have to deploy effective social media marketing strategy to attract consumers through
the social media platforms. Marketing through social media channel is one of the most lucrative
and effective way to disseminate marketing information among all the age groups, particularly
the young people. Memes marketing is a new form of social media advertising which several
businesses have started using to attract consumers.
Meme can be defined as an idea, behavior, style, or usage that spreads from person to
person within a culture (Merriam Webster) and it can be in the form of images, videos or GIF
that can be used as a marketing instrument in social media. Meme accounts in social media help
in driving brand awareness and have better return on investment compared to influencers and it’s
sufficient to pay them much lesser compared to influencers (Southern, 2018).
Millennial can be defined as a person reaching young adulthood in the early 21st century
(OxfordDictionaries.com) who is the most active social media user as indicated by numerous

Available @ website - www.researchdirections.org Page 405


EOI 10.11229/researchdirections/May19/71
ISSN NO – 2321-5488 UGC Journal. No. 45489 Impact Factor – 5.11
Vol: 7 Issue: 1 May 2019
studies. People of the age group amid 23 to 38 years in 2019 have been defined as millennial by
many organizations.
Goldman Sachs study elucidates,” Millennial are the first generation of digital natives
used to instantaneous access to price comparisons, product information and peer reviews. With a
population of over 440 million, millennials in India constitute nearly 34% of the country’s total
population accounting for majority of the working age population (47%). Almost all millennial
own a personal smartphone, nearly 84% with high-speed internet connections denoting mobile-
phones as the primary source of internet usage (Talreja, Wahi, Ghosh, Marwah & Verma, 2018).

By 2020, millennial will constitute 36% of India’s population, 61% of the country’s web
users & 78% of its online shoppers (Morgan Stanley, 2017). Hence, it is essential to study the
perception of millennials towards meme marketing and accordingly the advertising and
marketing stratagems can be scheduled.

Objectives of the Study


 To identify the general perception of millennial consumers towards Meme
advertisements.
 To study the impact of independent factors on Millennial Consumer’s;
i) Perception towards meme advertisements
ii) Purchasing intention influenced by meme advertisements
iii) Who follow social media pages of businesses impressed by their meme
advertisements?

Research Methodology
The study is of descriptive nature, convenience sampling technique was used. Data
collected from 217 millennial respondents from various socio-demographic backgrounds.
Cronbach’s alpha reliability coefficient for questionnaire: 0.73.
Statistical tools: Frequency, Percentage, Mann-Whitney U Test and Kruskal Wallis Test.
In all analysis, P < 0.05 was considered to be significant.

Summary of Findings
Table 1.1: Socio-demographic information of respondents
Socio-demographic variables Frequency Percent
Male 146 67.3
Gender Female 71 32.7
Total 217 100
Between 23-28 Years 134 61.8
Age Between 29-33 Years 62 28.6
Between 34-38 Years 21 9.7

Available @ website - www.researchdirections.org Page 406


EOI 10.11229/researchdirections/May19/71
ISSN NO – 2321-5488 UGC Journal. No. 45489 Impact Factor – 5.11
Vol: 7 Issue: 1 May 2019
Total 217 100
10th Standard & below 1 0.5
Higher Secondary (+2) 1 0.5
Educational Diploma holder 13 6
qualification Graduate 129 59.4
Post graduate & above 73 33.6
Total 217 100
Unemployed 14 6.5
Others (House Wife/ Student etc.) 37 17.1

Employment Self Employed 10 4.6


status Private company employee 147 67.7
Government employee 9 4.1
Total 217 100
Not Applicable (House Wife/ Students etc.) 51 23.5
Rs.10,000 & below 6 2.8
Rs.10,001 to 25,000 33 15.2
Rs.25,001 to 40,000 45 20.7
Income level
Rs.40,001 to 60,000 31 14.3
Rs.60,001 to 75,000 14 6.5
More than Rs.75,000 37 17.1
Total 217 100

Objective 1.1: To identify the general perception of millennial consumers towards Meme
advertisements.
Around 90% of respondents usually had a love for memes, 82% of consumers believed
memes form of advertisements can be an effective advertising strategy, precisely 82% of
respondents felt memes form of advertising was attractive and around 65% responded that meme
advertisements have the ability to convey the message of marketer clearly. Roughly, 53% of
consumers think meme advertisement does not have influence on their purchasing decision
whereas 76% of respondents strongly believe the meme advertisement without careful drafting
can have negative impact on its own brand image, only 32.3% of respondents have shared meme
advertisements on their social media platform and 24.9% of participants are following
company/brand/product’s social media page after being impressed by its meme advertisement.

Objective 1.2: To study the impact of independent factors on Millennial Consumer’s


perception towards meme advertisements.

Available @ website - www.researchdirections.org Page 407


EOI 10.11229/researchdirections/May19/71
ISSN NO – 2321-5488 UGC Journal. No. 45489 Impact Factor – 5.11
Vol: 7 Issue: 1 May 2019
Table 1.2a Gender Impact- Mann-Whitney between two groups
Ranks
Mean Sum of
2) Gender N
Rank Ranks
Male 146 109.07 15923.50
10. Can meme form of advertisements be an
Female 71 108.87 7729.50
effective advertising strategy?
Total 217
Male 146 111.05 16213.50
11. Does memes advertisement fascinate? Female 71 104.78 7439.50
Total 217
Male 146 110.39 16116.50
Female 71 106.15 7536.50
12. Do meme advertisements convey the
marketing message clearly to the consumer?
Total 217

Test Statistics

10. Can meme form


11. Does memes 12. Do meme advertisements
of advertisements be
advertisement convey the marketing message
an effective
fascinate? clearly to the consumer?
advertising strategy?

Mann-
Whitney 5173.500 4883.500 4980.500
U
Wilcoxon
7729.500 7439.500 7536.500
W
Z -.033 -1.038 -.565
Asymp.
Sig. (2- .974 .299 .572
tailed)

This table shows the actual significance value of the test. Specifically, the Test Statistics table
provides the test statistic, U statistic, as well as the asymptotic significance (2-tailed) p-value.
With question no 10, 11 and 12 there was no statistically significant difference between male and
female.

Table 1.2b Educational Qualification Impact - Kruskal-Wallis Test


Ranks
5) Educational qualification N Mean Rank
10th Standard & below 1 197.50
Higher Secondary (+2) 1 197.50
10. Can meme form of advertisements be an
Diploma holder 13 97.35
effective advertising strategy?
Graduate 129 104.14

Available @ website - www.researchdirections.org Page 408


EOI 10.11229/researchdirections/May19/71
ISSN NO – 2321-5488 UGC Journal. No. 45489 Impact Factor – 5.11
Vol: 7 Issue: 1 May 2019
Post graduate & above 73 117.24
Total 217
10th Standard & below 1 198.00
Higher Secondary (+2) 1 198.00
Diploma holder 13 106.19
11. Does memes advertisement fascinate?
Graduate 129 108.84
Post graduate & above 73 107.34
Total 217
10th Standard & below 1 179.50
Higher Secondary (+2) 1 179.50
12. Do meme advertisements convey the Diploma holder 13 87.69
marketing message clearly to the consumer? Graduate 129 108.01
Post graduate & above 73 112.62
Total 217
a,b
Test Statistics
10. Can meme form of
11. Does memes 12. Do meme advertisements convey
advertisements be an
advertisement the marketing message clearly to the
effective advertising
fascinate? consumer?
strategy?
Chi-Square 14.303 9.263 6.288
df 4 4 4
Asymp. Sig. .006 .055 .179
a. Kruskal Wallis Test
b. Grouping Variable: 5) Educational qualification

There was statistically significant difference with Question 10 (Mean rank score between
the different Educational Qualification, χ2(4) = 14.30., p = 0.006).
There was no statistically significant difference with Question 11 (Mean rank score
between the different Educational Qualification, χ2(4) = 9.26, p = 0.055) and Question 12 (Mean
rank score between the different Educational Qualification, χ2(4) = 6.29, p = 0.179).

Objective 1.3: To study the impact of independent factors on Millennial Consumer’s


purchasing intention influenced by meme advertisements.
Table 1.3a Gender Impact- Mann-Whitney between two groups
Ranks
2) Gender N Mean Rank Sum of Ranks

13. Can Meme Male 146 112.44 16416.00


advertisements influence Female 71 101.93 7237.00
your purchasing
decision? Total 217

Available @ website - www.researchdirections.org Page 409


EOI 10.11229/researchdirections/May19/71
ISSN NO – 2321-5488 UGC Journal. No. 45489 Impact Factor – 5.11
Vol: 7 Issue: 1 May 2019
Test Statisticsa
13. Can Meme advertisements
influence your purchasing
decision?
Mann-Whitney U 4681.000
Wilcoxon W 7237.000
Z -1.338
Asymp. Sig. (2-tailed) .181
a. Grouping Variable: 2) Gender
With Question 13, there was no statistically significant difference between male and
female (U = 4681, p = .181).

Table 1.3b Educational Qualification Impact - Kruskal-Wallis Test


Ranks
5) Educational qualification N Mean Rank
10th Standard & below 1 160.00
Higher Secondary (+2) 1 160.00
13. Can Meme
Diploma holder 13 93.23
advertisements influence
Graduate 129 107.01
your purchasing decision?
Post graduate & above 73 113.92
Total 217

Test Statistics a,b


13. Can Meme advertisements
influence your purchasing
decision?
Chi-Square 3.637
df 4
Asymp. Sig. .457
a. Kruskal Wallis Test
b. Grouping Variable: 5) Educational qualification
With Question 13 there was a statistically significant difference (Mean rank score
between the different Educational Qualification, χ2(4) = 3.64, p = 0.457).
Objective 1.4: To study the impact of independent factors on Millennial Consumers who
follow social media pages of businesses impressed by their meme advertisements.
Table 1.4a Gender Impact- Mann-Whitney between two groups
Ranks
Sum of
2) Gender N Mean Rank
Ranks
Male 146 106.84 15599.00
15. Have you ever shared Meme
advertisements on your social Female 71 113.44 8054.00
media platform? Total 217

Available @ website - www.researchdirections.org Page 410


EOI 10.11229/researchdirections/May19/71
ISSN NO – 2321-5488 UGC Journal. No. 45489 Impact Factor – 5.11
Vol: 7 Issue: 1 May 2019
Male 146 109.25 15950.00
16. Are you following any Female 71 108.49 7703.00
company/product/brand’s social
media page after being impressed Total 217
by its Meme advertisement?

Test Statisticsa
16. Are you following any
15. Have you ever
company/product/brand’s
shared Meme
social media page after being
advertisements on your
impressed by its Meme
social media platform?
advertisement?
Mann-Whitney U 4868.000 5147.000
Wilcoxon W 15599.000 7703.000
Z -.897 -.111
Asymp. Sig. (2-tailed) .370 .912
a. Grouping Variable: 2) Gender

With Question 15 and Question 16 there was no statistically significant difference between
male and female.

Table 1.4b Educational Qualification Impact - Kruskal-Wallis Test


Ranks
5) Educational qualification N Mean Rank
10th Standard & below 1 144.00
Higher Secondary (+2) 1 144.00
15. Have you ever shared Meme
Diploma holder 13 93.92
advertisements on your social
Graduate 129 107.83
media platform?
Post graduate & above 73 112.79
Total 217
10th Standard & below 1 136.00
16. Are you following any Higher Secondary (+2) 1 136.00
company/product/brands social Diploma holder 13 119.31
media page after being impressed Graduate 129 103.20
by its Meme advertisement? Post graduate & above 73 116.68
Total 217

Test Statistics a,b


15. Have you ever
shared Meme 16. Are you following any company/product/brand’s
advertisements on social media page after being impressed by its Meme
your social media advertisement?
platform?

Available @ website - www.researchdirections.org Page 411


EOI 10.11229/researchdirections/May19/71
ISSN NO – 2321-5488 UGC Journal. No. 45489 Impact Factor – 5.11
Vol: 7 Issue: 1 May 2019
Chi-Square 2.565 5.196
df 4 4
Asymp. Sig. .633 .268
a. Kruskal Wallis Test b. Grouping Variable: 5) Educational qualification
With Question 15 there was a statistically significant difference (Mean rank score between
the different Educational Qualification, χ2(4) = 2.56., p = 0.633).
With Question 16 there was no statistically significant difference (Mean rank score between
the different Educational Qualification, χ2(4) = 5.196, p = 0.268).
Conclusion
The majority of millennial consumers have access to social media applications, they
spend ample time on it and among them a vast majority has exposure towards meme
advertisements. Around 82% of millennial consumers believe that meme advertisements
interest them and can be effective whereas 47% responded that meme advertisements have
influence on their purchasing behavior. Around 35% respondents feel that the meme
advertisements might not have the ability to convey the intended marketing messages clearly
without any complexity. The companies should start increasing focus on the social media
platforms with innovative meme advertisement to impress the millennial consumers. The
trending information should be used in memes combined with humor elements. The marketers
should try to convey their message straight forward, the millennial might not be interested in
viewing at long advertisements. Creativity in memes is the main reason behind its viral reach.
Marketers should be careful in drafting meme advertisement as it can damage their own
brand’s image if unclear. The companies should try to increase its number of followers in
social media channels. To conclude, well received positive meme advertisements in line with
consumer mindset can aid hike in sales, increasing brand image and profits.
References
Definition of Meme. Merriam Webster. Retrieved from https://www.merriam-
webster.com/dictionary/meme
Goldman Sachs. Millennials coming of age. Retrieved from
https://www.goldmansachs.com/insights/archive/millennials/
Morgan Stanley. (2017, March 17). India’s Millennials to recast economy in own tech savvy image.
Retrieved from https://www.morganstanley.com/ideas/india-millennials-makeover-disruption-growth
OxfordDictionaries.com
Southern, L. (2018, August 03). Better ROI than influencers: Meme accounts attract growing
interest on Instagram. Digiday UK. Retrieved from https://digiday.com/uk/better-roi-influencers-meme-
accounts-attract-growing-interest-instagram/
Talreja, A. Wahi, R. Ghosh, S. Marwah, D. & Verma, B. (2018, February). Trend-setting millennials:
Redefining the consumer story. Retailers Association of India – Deloitte. Retrieved from
https://rls.net.in/wp-content/uploads/2018/02/Trendsetting-Millenials_RAI-Deloitte.pdf
We are social (2018).GLOBAL DIGITAL REPORT. Retrieved from
https://digitalreport.wearesocial.com/

Available @ website - www.researchdirections.org Page 412

You might also like