Marketing: Chapter Summary

Generation Xers are often referred to as the Baby Bust generation. They were born 1965- 1976, now many Gen Xers find themselves having large amounts of responsibility. Having to take care of the now retiring Baby Boomer generation and the still young Millennia Generation. At this point they have all reached middle age and most are at the height of their professional careers. Gen Xers are the least represented generation, they are often looked over in regards to marketing and statistics. They are the demographic bridge between the more conservative Baby Boomers

Throughout the lives of baby boomers and even today the market is constantly changing the age of its target audience to focus on the boomers because they make up the majority of consumers. Without the Baby Boom business' growth and development would not be where it is today. The economy continues to appeal to the aging baby boomers as they near retirement just as it did right from when they were first born.

North Americans born between 1945 and 1963 are all referred to as the Baby Boomers. During this time period or 75 million babies were born in the U.S alone. After WWII the birth rate in North America was on the rise. Growing Families created growing and expanding markets for new housing, automobiles as well as many other products such as toys, food and of course the wonderous television. Baby Boomers were the first generation in history to be raised in front of the television. The drastic increase in population completely changed the social and economic make-up of North America within a span of about eighteen years. But in the late seventies things began to change. Generation X accounts for those born between 1964 and 1981, these

People of Generation X are very easy to be reached through many different strategies. On the Avalon Peninsula, there are many different places to buy toothpaste like grocery stores, retail stores, and convenience stores. For example, in the Bay Roberts- Carbonear area, there is three Powell’s Supermarkets, two Dominions, two Foodlands, two Shopper’s Drug Marts and one Wal-Mart. Hence, there are lots of consumer opportunities to buy toothpaste. They can also be reached by advertisements, the use of email, appealing to their financial responsibility, and appealing to their values. (“Stuck in the Middle: Marketing to Generation X”, 2015)

Currently, there are five main generations. Traditionalists are the oldest generation, being born between 1900 and 1945. They only constitute 5% of the current workforce, as most have retired (Wiedmer 2015, 51). The baby boomers are the oldest and largest generation currently in the workforce (Wong et al. 2008, 878). This generation was born following World War II between 1945 and 1964, with approximately 76 million individuals (Wiedmer 2015, 52). Generation X was born from 1965 to 1981 and is also known as the baby busters because their birth rates are vastly lower than the baby boomers (Wiedmer 2015, 53). Generation Y, or the millennials, was born between 1982 and 1995 and grew up in a very different time compared to their predecessors, with

First, let’s defined age, Age plays an integral role in how companies promote their products online and offline. Segmenting your market by age often involves diversifying pricing and color options, and adjusting features to fit the anticipated needs and expectations of each age group. A bookstore releasing a new decade-specific book written about growing up in the

Generation Y are less brand loyal and the speed of the Internet has helped with the flexibility to change in its fashion, style consciousness and where and how it is communicated with. Lastly, Generation Y whichranges from 1995-2012. According to Generational Kinetics there are currently over 23 million Gen Z in the United States. Gen Z members are still largely kids and adolescents but have earlyindications of being increasingly self-aware, self-reliant, innovative and goal-oriented.One key difference from Millennials and Gen Z is that they don’t remember a time before social media. As a result, they tend to live much more of their entire lives from interacting with friends and family to making major purchases online and via their smartphones. Therefore, Gen Z kids will grow up with a highly sophisticated media and computer environment and will be more Internet savvy and expert than their Gen Y

Also, known as a generation that makes buying purchases online instead of shopping in stores or

The millennial generation, which includes people born in the 1980s and 1990s, is approaching the age where people begin put their values into play, begin developing their views on the world, and their attitudes towards topics. This is how the characteristics of a generation are defined, and how the identities of people within the cohort form.

Among all the generation, Millennials have become the largest generation in U.S in the last two years. Millennials are also the fastest-growing generation of customers in the marketplace, bringing the greatest lifetime value. In addition, Millennials exhibit different attitudes toward employment, sales, and marketing, which are challenging many conventional strategies and approaches.

Marketing is used to create the customer, to keep the customer and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being Innovation. Other services and management activities such as Operations, Human Resources, Accounting, Law and Legal aspects can be "bought in" or "contracted

Generation Y, AKA Gen Y, AKA Millennials, in the United States alone, accounts for approximately 78 million people that make up this generation of people. That is an average combined spending power of approximately $200 billion annually. Hence, the reason marketers are

Baby Boomers: They have more purchasing power as they tend to have a decent amount of disposable income. Bloomers value the style/look, customer service, and brands over the price. They also tend to do more research than teenagers who tend to care more about word of mouth and

Marketing is perhaps the most important activity in a business because it forms the communication bond between the customers and the company, and it’s a key aspect of communicating the value of the product.

Marketing is selling the product goods and service by knowing the needs and wants of the customer and consumer (Kotler P, 2009). Marketing Management expertise has capable of knowing the change of an organisation to manage both the internal and external challenges of environment (Cant M C, et al, 2009). A company needs to classify the customer needs and identifies the demand of the supplying