Marketers have regularly paid attention to demographic labels like Boomer, Gen X and Millennial. However, Ivey's Niraj Dawar said he feels this type of generational segmentation is useless and obsolete.
In a piece for the Harvard Business Review and featured in an article in Yahoo Finance, Dawar argues in a world rich in behavioural data, accurate assessment and targeting of the individual consumer is not only possible; it is easy.
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"Today, individualized media (smartphones) have made those segmentation exercises as obsolete as rotary dial. It is far more viable and profitable to target individuals based on their individual media and consumption habits than by grouping them into segments that marketers hope are homogenous. You can find and reach the 60-year-old who reads and watches Vice News (a news outlet aimed at younger viewers) and the diligent 25-year-old who is saving for retirement — individuals you would miss with a coarser demographic segmentation scheme."
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