Mof Presentation Final

Presented by:Drew Guiteras

The Millennials

Born 1980 - 1995 Approx. 70MM people Diverse $360 billion spending power

Our focus: Born between 1980-1990; age 18-28

Our Agenda

LIFE FORCES MARKETING 5 TENETS FOR TRAVEL

Life forces: Commerce

Motorola DynaTAC Osborne 1 Laptop Sony Mavica

“Imagine technologies that allow us to communicate withanyone, anywhere and at any time.”

Newsweek Article, 1980

Motorola DynaTAC Osborne 1 Laptop Sony Mavica

Commercial Driver:Anyone, Anywhere, Anytime

“We have come to a point where any ofus can realistically imagine contactingany other of our 6 billion (counterparts)…And, of course, this means we can affectlives everywhere and learn about lifeanywhere.”

Anyone, Anywhere, Anytime

Constant connection is an entitlement

– Cell phone is one possession thatcollege students can’t live without

– Crackberry, literally: studies findtexting is addictive

What happened to Natty Lite?

12% drop in dollar share

Source: Neilsen Reportsstudy of 21-30 year-olds

Anyone, Anywhere, Anytime

H+P video

Life Forces: Economy

Median Household Income

$40,000

$50,000

1980 1999

Source: US Census

Children of the 1990’s

Attitude…

“Irrational Exuberance”

Endless Expansion

Riches for All

Economic Driver: Go your own way

“New research from many quarters hasstarted to show that even when growthdoes make us wealthier, the greaterwealth no longer makes us happier .”

Helicopter Parents

The Safety Net: Millennials may be the first generation whereparents have spent more income on children than on selves

Economic Driver: Go your own way

CB.com campaign

Life forces: Culture

The typical 22 year-old, 1980…

Finished with education… married or engaged… caringfor a child or planning for one… starting a career

Average Age of Marriage

Average age entering parenthood

21

26

1980 2005

Age 21 and 25 in school

The typical 22 year old, 2008

• Years away from marriage

• Years away from parenthood

• Still pursuing education

• Just starting to consider career paths

By age 25, life is on a trajectory that can’t be traced to the end of the next fiveyears

One year from now…

My final year in school I hope to have as much fun as possible. Unfortunately thismentality can also mean that I can muck it up and procrastinate too long. We shall see.

One year from now I hope to be in the south of France being fed grapes by a colony ofbeauties. Again, we shall see.

Jerrod, 21Sonoma University

MonsterTrak 2008 Survey:

“48% of this years grads expect toreturn home after graduation.”

Cultural Driver: Postponed adulthood

“Marriage, home, and children are seen not asachievements to be pursued but as perils to beavoided… Adulthood represents a closing of doorsthe end of independence, the end of spontaneity, theend of a sense of wide-open possibilities.”

-Jeffrey J. ArnettEmerging Adulthood

Cultural Driver:Postponed Adulthood

E-Trade ad

Commercial DriverAnyone, Anywhere, Anytime

Cultural DriverPostponed Adulthood

Economic DriverGo your own way

AGE OF SELF-EXPLORATION

Mission focused mindset of adulthood

vs.

Youthful desire to experiment and explore

Age of Self-Exploration

Career Leeway

Parental Encouragement

Cultural License

Sense of Security

Technological Ability

Explorations of the self-explorer

CONSUMER VIDEO

The hunt-and-gather

Rick Steves

Grandma

friends

blogs

Word-of-mouth

360 ̊ Strategy

Tenet 1: Push, don’t pull

Jet Blue on Twitter

“The Blind Go”

“Some of the best trips I’ve takenare the ones where I just blindly go.”

Itineraries are the enemy

Challenge: How to promise aninteresting/fulfilling trip withoutthe burden of an itinerary?

Tenet 2:Arm Millennials with instant information

Do-everything spirit

The answer is yes

I’m going to rest and relax

AND I’m seeking adventure/excitement

AND I want entertainment

AND I’m going to celebrate a special event

AND I’m going to a small town

AND I’m going to a city

AND I’m going to the beach

AND I’m going to the mountains

AND I’m going to the lake

Tenet 3:Open Possibilities

Getting something out of it

“Introspection is a large part oftravel. You want to go somewhereand get something out of it… It’sa chance to take yourself out ofyour comfort zone and learnsomething about yourself.”

College Bridge Year

"In the world that Princeton'sgraduates will enter over the nextdecade, international perspectives andexperiences will be more important thanever before. A new bridge year programhelps our students thrive as citizensand leaders in that world, andincreases their ability to appreciate allof the elements of a Princetoneducation."

Voluntourism

Tenet 4: Explore Us, Explore You

Travel Badging

The Experience Portfolio

Tenet 5: Help broadcast the show

Tenet 5: Help broadcast the show

Feed the Cycle

Hunt/Gather

Broadcast

“It’s tough to make predictions, especiallyabout the future.”

1. Increased interest in and travel to foreigndestinations.

“It’s tough to make predictions, especiallyabout the future.”

1. Increased interest in and travel to foreigndestinations.

2. Rise in long-term vacations and “sabbatical” trips.

“It’s tough to make predictions, especiallyabout the future.”

1. Increased interest in and travel to foreigndestinations.

2. Rise in long-term vacations and “sabbatical” trips.

3. Family travel that fulfills need to explore.