Consumer Behavior and Purchase Decisions of the Consumer Group of Baby Boomers

The potential consumer target markets fall into two categories; the segments will be referred to as “Suburban Select” and “Young & Active”.

Baby Boomers are the most powerful demographic group in history. Businesses thrives or fails based on their ability to keep pace with the likes and dislikes of this economic powerhouse known as the baby boomers. At 76 million strong, boomers have the influence to rule the marketplace and make sure they keep a place set just for them as the

Today, there are many Baby Boomers that live in the world. Most of these people have impacted a lot of people currently. This is because of many things they have introduced to us and or gave us. There are many people that can be shown to be very important to our culture and or history, but first of all, what is a baby boomer?

Most baby boomers grew up watching their traditionalist parents work very hard to make ends meet and take care of the family unit. As a result of their upbringing many boomers have adopted their parent’s strong work ethics; working hard, long hours trying to climb the corporate ladder. Baby boomers still enjoy personal face to face interactions and building rapport with people

Introduction: Marketing has become an art form in today’s society, analyzing specifics and how the consumers react to certain goods and services. The needs of consumers are constantly changing, so marketers must study every detail and be able to recognize the changes in wants and needs. Marketers use this data to become “sensitive” to the needs of each group of individuals, appealing to the minorities with said products. Below is a slight insight to what questions and data marketers analyze to make their goods and services appealing to the individual groups.

After World War II, birth rates increased enormously over the whole world. During the baby boom, around 77 million babies were born in the U.S. More people in the country created more consumer demand, which made a big increase in manufacturing and production. The average income among people increased and made the demand greater. The baby boomers made a long-lasting economic growth that raised the standard of living in The United States and the world. The first baby boomers became eligible to retire in 2012 and will be different retirement compared to their parents the greatest generation. The retirement is different in ways like longer retirement, higher expectations, exotic investment options, deregulation, rising instead of declining interest rates, and personal saving instead of pensions.

Baby boomers are people born between 1946 and 1964. The baby boomer generation will turn 65 by the year 2030. One-fourth of the entire population, will be seniors. With so many medical advances, many Americans are living longer, 5.8 million of seniors are expected to be older than 85. With so many baby boomers living longer, and the United States facing a growing rate of chronic diseases, we could be facing a health care crisis.

The end of world-war II marked the beginning of a new era in this country. The baby boom era began in 1946 and ended in 1964. During this era, 76 million babies were born according to pew research center. The number of people reaching adulthood in the next decade was tremendous. As a result, the country had to adjust to meet the demands and fulfill its obligations to the citizens. Though, the boomers were sophisticated and wanted to impose their views on the rest of the society. Eventually, the country started to experience some changes and the boomers’ influence was propagating in the society. Cheryl Russell, the Editor-in-Chief of America Demographics Magazine and the author of “100 Predications for the Baby Boom: The next 50 years.” In his

“Echo boomers are a reflection of the sweeping changes in American life over the past 20 years. They are the first to grow up with computers at home, in a 500-channel TV universe. They are multi-taskers with cell phones, music downloads, and Instant Messaging on the Internet. They are totally plugged- in citizens of a worldwide community.” (Leung)

Fifty and older consumers represent the market with the largest potential for growth. Currently comprising close to 100 million people in the United States, their population is expected to grow

While the “Greatest Generation” is a title often given to those Americans who lived and died during the era of the Great Depression and World War II, their offspring, the “Baby Boom” generation, significantly shaped and improved the American landscape as well if for no greater reason than the sheer number of people who make up this population (Steinhorn, 2006). Today, based predominantly on that very same reason, the baby boomer population is now making a very different, yet equally as profound impact on American society. More

This article is specific to people in their 70’s looking to avoid medical tests. Magazine subscription has a certain age and retirement requirements. For example, having to be over the age of fifty to qualify for a subscription to the magazine. The front page has another article saying,“50 Ways to Shop Smart and Save Big”. Saving money makes me guess that these people might have money but not all the money in the world therefore middle-class. Another article titled “Cruise America! Must Book-Now Excursions”, this article that includes cruise trips seemed significant knowing that most of the passengers on cruise trips were older people in retirement, or middle classed income. Its seems surely the target audience would be older men. The demographic also would be older people with kids that are grown up and don't live in the house. The goal of this essay is to look at advertisements and articles to uncover some facts to help find the demographics or target audience this magazine is intending to sale

Kyles (2005) defines them as competitive, political, hardworking, and nonconformists. “Known for their workaholic ethic, Boomers will do whatever it takes to get the job done and get ahead, and they expect to be rewarded. They outnumber all generations and hold a majority of management-level positions. They are also approaching retirement and are heavily concerned with financial and job security” (Kyles, 2005, p. 54). This group is very hard working and also offers a lot of wisdom that can be beneficial to those of the younger generations.

Subcultures are smaller groups of a larger culture that have similar and unique values but also possess some differences to the common culture. There are many different subcultures such as social class, age cohorts, gender, and religious subculture. Nowadays, subcultures are becoming important to brands because it leads to a better orientation to market a product or service. This assignment will focus on the age cohorts’ subculture, namely Generation Y. Surprisingly, “Millennials has 21% of consumer discretionary purchases, which is estimated over a trillion dollars in direct buying power and a huge influence on older generations” (Milleniall Marketing, 2014). It is the generation of people born during the 1980s and early

In the demographic segmentation, age, gender, income, occupation, and life cycle stage affect consumers in the retail industry. Within the demographic segmentation and the variable of age, the younger consumers’ needs differ from the older consumers’