Impact of meme marketing on purchase decisions of millennials

Abstract

Now-a-days many companies have come up with new techniques of marketing their producte in the market to their target customers, as promoting a product is as important as its features in driving sales. We believe that the way in which a product is promoted impacts the brand awareness among consumers with different demographics differently. The project aims to understand the impact of meme marketing on brand awareness among Millennials and non-millennials and if we can draw any reasonable conclusion about the purchase behaviour in each case. We have also intended to find out the impact of meme marketing on the sales of a company. We have adopted the methodology of experiment, in which we have chosen a set of control groups and given them two different types of promotions one with meme marketing and other is regular promotion with offer details, they were asked to rate their purchase. Further, ANOVA analysis has been performed and the inference has been used to validate the hypothesis. We observed that the meme marketing increases the brand awareness among the Millennials than non-millennials, but there is no direct impact of meme marketing on the ultimate sales, i.e., it did not show any increase in the sales from our analysis. This study recommends using different marketing techniques for different demographics and undertake those techniques which can directly drive sales.