Many knows that the Human Rights here in Philippines
is somehow being regarded as important by people, Filipinos really fight for
their rights in many different ways. And one of those rights that Filipinos
were always fighting for is the rights of Economics or more in the consumer
rights. However, the Philippines’ government are more investing in other
expenses and they sometimes don’t regard the other department’s needs, like
here in the country they don’t give attention on Commission on Human Rights which
is one of the most needed department. The country’s aid system is limited by
its excessive focus on mainly financial and procedural matters at the expense
of developmental processes and outcomes (Africa, 2008). Having the millennials
as consumers, some sellers take advantages at their age which results to some
maltreatments. Moreover, millennials now begin to know about their rights and
they act like they have to be treated rights whenever they

 

purchase,
because after all they are still customers and customers are always right. The
rational-expectations revolution in macroeconomics and in microeconomics the
spread ad increasing refinements of modern game theory. Agents were now
sophisticated information processors, who could not be systematically fooled (Benabou
& Tirole, 2016).

 

2.3 Economic and Millennial Trend

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In today’s generation, technology is continuously
evolving from time to time wherein they enhance its different kind of features.
Today, some people especially the millennial ones use social networking sites
in purchasing products and communicating with sellers through the internet.
Purchasers are sometimes being corrupted by 
behavioral targeting, big data, branding, buy American initiatives,
cause marketing, celebrity endorsements, consumer segmentation, consumer
tracking, content marketing, crowdsourcing, customer engagement, customer
relationship management, gamification, green marketing, lead generation,
loyalty programs, market research, out-of-home advertising, place-based video
advertising, sampling, shopper (in-store) marketing, sponsorships, sports
marketing, and word-of-mouth (Miller, 2009). Some sellers and companies use
technology and social networking sites as a medium in advertising, because they
are aware of the change that people now are

 

more
into it. Media consumption in producing a complex and often stressful media
experience that can influence individual’s motivation, ability and opportunity
to attend to and process commercial messages including advertising (Bardhi,
2010). Speaking of generation, the people who were born in 2000 up till this
year are called millennials or generation Y. Generational theory seeks to
understand and characterize cohorts of people according to their membership of
a generation, which is objectively assigned according to the year of birth
(Benckendorff, P., Moscardo, G., & Pendergast, D., 2010). Being born in
this generation, millennial tend to purchase things that are not necessary,
more of their wants or desires than their needs. A review of the popular
literature suggests that the Millennials ”want it all” and ”want it now,”
in terms of good pay and benefits, rapid advancement, work/life balance,
interesting and challenging work, and making a contribution to society (Ng,
Schweitzer, & Lyons, 2010). Gen Y buyers select and consume products that
helps them to define who they are, what is important to them and what they
value in life also serve to express some aspect of their own personality or
image (Ordun, 2015). Millennial consumers differentiate between the terms
“luxury” and “affordable luxury,” which products they perceive to be affordable
luxuries, and the price range they are willing to pay for affordable luxuries

 

 

(Mundel,
2017). As millennials begin to enter life cycle stages that involve purchasing
homes, starting families, and running companies, affluence as

well as the desire
for luxury and upscale products will emerge (DeVilling, 2015).  In addition to their immense size,
millennials have developed into more sophisticated consumers relative to
previous generations since they are the first to always have been connected
globally through the Internet (Nowak et al., 2006). Millennial consumers who
are into online purchasing also learned to improve their lives by also doing
online selling and investing to it.

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