IndexInsights on the Fragrance IndustryGeneration ).Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Understanding and selecting fragrances comes with complications. It is not simply about choosing a fragrance for specific purposes such as a fragrance for parties, a fragrance for work or a casual fragrance for everyday life, but also requires the desire to express personal personality or emotions. In this study, consumer preferences and behavior towards scented products will be identified and discussed among two generations, including Millennials and Generation known as operant learning) and examine how fragrance brands developing products can transform acquisition behaviors among Millennials and Generation niche, however this study only focuses on luxury perfume brands that provide premium perfumes. Insights into the Perfume Industry Since the beginning of civilization, perfumes and fragrances have been widely used. The appearance of perfume was recorded as early as the ancient Egyptians and ancient China. Today, consumers are realizing their demand to wear perfume every day. According to the scientific aspect, this question connects to the highest level of Maslow's Hierarchy of needs which is Self-Actualization. The growing demand for perfumes has been demonstrated by global industry statistics in recent years. Figures 1 and 2 illustrate that the global perfume market size is worth approximately $41 billion in 2018 at a CAGR of 4% from 2014 to 2018 and is expanding at a CAGR of 3.8% over the next five years, with an expected value of approximately $49 billion. in 2023. (Marketline, 2019) In Euromonitor's Global Fragrances report, it is stated that the year 2013 saw the dominance of premium fragrances with 55% of the total market value and women's perfumes accounted for the largest percentage with 63 % of value in USD 15.6 billion (Euromonitor, 2014) Although the Western EU maintained its dominance in the perfume sector in 2013, Latin America will gain its top position by 2018, along with the Middle East and 'Africa. They will be the main drivers of growth in the period 2013-2018, reaching a CAGR of 4% and 7% respectively. However, Latin America will remain heavily oriented towards mass segments, generating 91% value gains over the period from 2013 to 2018, while a 40% value increase in premium fragrances will be generated by MEA over the same time frame . Western Europe and North America will continue to be the top markets for luxury fragrances, reaching $16.1 billion in 2018, or approximately six in ten of total sales. Generation X and Millennials Identifying the distinctive characteristics of Generation First, regarding the age range, Generation , are the demographic cohortfollowing Generation Identifying the age range for Generation X and Millennials is necessary to understand the consensus on consumption behaviors for both groups. The second way to discuss should be spending power. Compared to millennials, Generation X is a small but powerful demographic cohort. Gen Xers are known to be entering middle age and at the peak of their careers with high earning power, but still remain budget-conscious. Millennials are much more likely to spend their money on unique activities and prioritize their experiences, which can be wide-ranging. The key trend here is that millennials typically expect a certain quality of life and pursue it regardless of their limited means. Thirdly, moving on to the technological question, people of Generation X can use the Internet in their daily lives for most activities, but mainly for practical purposes only. Gen Xers can still be targeted in many ways as they are tech-savvy and use both online media and traditional platforms, including email and television. They are industrious and adapt quickly to new technologies. On the other hand, millennials have played a crucial role in the move online of many brands. As a demographic, they prefer to shop online daily and socially rather than through conventional methods such as browsing in stores. Therefore, to clarify any differences, it is this and its effect on consumer behavior that should be further examined. In addition to this, Generation X has a high degree of brand loyalty as they tend towards repetitive purchasing behaviors. They can be quite loyal and cautious towards their favorite brands if they believe they are genuine and reliable. This is not the case for millennials, who are known as brand switchers, millennials perform greater brand switching behaviors. Such characteristics can be used in the study of consumer behavior in the luxury perfume industry and in observational learning theory in Generation X and millennials. The theory that was chosen to further examine consumer behavior in the luxury perfume industry is observational learning. Observational learning describes the process of learning by observing the outcome of others' behavior, retaining the information, and subsequently replicating the observed behaviors. The process of imitation is also called modeling because much learning occurs indirectly. Depending on positive/negative reinforcement, an observer's behavior can be influenced by future behavioral actions in terms of the possibility of engaging in a particular activity. In general, the greater the similarity between the model and the student, the more likely people are to follow the examples. According to Bandura, for observational learning to occur, there are four key processes: attention, retention, production, and motivation. How Generation X and Millennials Learn In the luxury perfume industry, marketing is very important since conveying the smell of a fragrance is not always feasible. Therefore, many companies decide to put a lot of effort into marketing strategies, including using high-profile celebrities in advertising campaigns to dominate the market (Marketline, 2013). Looking at Dior's campaign, JOY by Dior – The new fragrance, they successfully created favorable thoughts.