How would you market our products to attract Gen Y customers?
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We believe Generation Y (millennials) are not adequately planning for their financial future. Successful financial planning requires one to “start early”. In today’s society, technology improvements and instant communication have conditioned young consumers to seek out products that provide immediate gratification. Things like smartphones, tablets, and flat panel TV’s can be turned on and enjoyed immediately. Combine this trend with a confusing assortment of complicated insurance and retirement products and this generation has made the easy choice of immediate gratification over long term benefit.

As a result, consumers under the age of 30 are not protecting their financial future by purchasing insurance and retirement products at the rate of the previous generation. This will result in a dangerous financial situation for them and society as a whole when members of the rising generations are not prepared with the same financial safety nets their parents had. What's more, the average life expectancy continues to increase, providing a greater chance that people will need this safety net at some point in their future.

MetLife wants to engage customers under the age of 30 by showing them that investing in the future through insurance or retirement products is a prudent financial decision. The problem is, how do we do this in a way that's attractive to Generation Y?

Deliverables

Please submit the following:

Propose an idea for a new product or service offering that MetLife could create (either insurance or retirement focused) that would specifically appeal to consumers under the age of 30

· Describe in detail this new product or service

· Describe how your idea will inspire these consumers to act

· Propose a unique message you would use to drive them to check out these new products or services

· How would you use social media and other channels to market this message?

    Submissions will be graded on the following criteria:
  • Meets Deliverables
  • Creativity
  • Clarity
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