What are the circumstances that make one come across such phenomenon?
Does it only apply to the younger generation ?
How does one deal with it , without getting hurt?

I believe Peer Pressure is something that just about everyone has come across at some point in their lives, some more often than others. It effects everyone, not just the younger generation. I think beliefs that it only effects the younger generaration stem from the fact that being young and not knowing who you are or what you want in life, you're more likely to be pressured into doing something that doesn't really appeal to you just so you can fit in. But there's so many situations where people face peer pressure. Such as a person who's just given up smoking, or someone who wants to lose weight, these people all have someone who doesn't nessarily want to see them fail, but doesn't want them to succeed either. Or maybe that's not really the same thing? To me, it is. I think the best way to deal with peer pressure is to stick with what you want and how you feel. If those people really matter and care about you they won't be pressuring you into anything, if they continue to do so... perhaps it's time to get a new set of friends :D