A new generational cohort is emerging from the Millennial market segment as a result of cataclysmic events that have occurred since 2008. Interviews with college upperclassmen in the United States identified significant events influencing their values, the values arising from these events, and new values not associated with older Millennials. The most important events identified included the Great Recession, 9/11, and the election of the first African-American president. Values of Millennials were assessed in online surveys of college juniors and seniors in the United States in the fall of 2009 and 2010 and among older Millennials, aged 27-31, during the summer of 2010. The values most strongly differentiating the younger and older Millennials were "piety" and "thrift." Younger Millennials in the United States are less thrifty and more secular and sexually permissive than older Millennials. They are also less patriotic and less concerned about politics, sustainability, saving, and making mistakes in life. This suggests a splintering of the Millennials cohort as a result of the Great Recession and the potential emergence of a younger "entitlement" cohort. It also suggests further investigation of cross-national value shifts among younger Millennials, prompted by the Great Recession.

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The values of coming-of-age millennials in the United States, Sweden, and New Zealand were studied to determine if their values are similar, thus enabling marketers to stress the same values panculturally. While similarities were found on some value dimensions, many differences were noted as well. U.S. and Swedish millennials were most different from one another while New Zealand millennials were more similar to U.S. respondents than Swedes, a finding consistent with Hofstede's model of cultural values. The findings support the need to understand cohort-based values and cultural values in designing a marketing strategy targeting millennials across cultures.

Survey data merged with contribution records from a development office database provided a basis for understanding alumni support for a university. The survey randomly sampled alumni of a state university school of management who had graduated between 1980 and 1988. Subjects filled out mail questionnaires measuring social psychological constructs from the literature on prosocial behavior. The determinants of obligation to donate included perceived efficacy, perceived need, reciprocity, and individual attachment to the university. Obligation and other constructs explained the number of donations recorded in the development office database over 6 years. The model also predicted intentions to support the university by working for an alumni association or attending reunions. This model of alumni donation leads to recommendations for designing university fund-raising communications.'The authors wish to thank Ellen Catabia and Gwen Hubler of the Development Office at the University of Massachusetts School of Management for their assistance. We also appreciate the support of the University of Massachusetts Development Office.

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