Marketing Environment

BABY BOOMERS were born during 1946-1964 and are in the 48-65 age range. Health, energy and wellness are major goals for them. Family values are very important to this generation. Many are becoming Empty Nesters since their children are leaving home. The necessity of having a family vehicle is not essential anymore.

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

As of 2012, there were 65.2 million Baby Boomers still living in the US. These individuals, all now currently between the ages of 50 and 68 years old, represent 21% of the current US population.

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

and 1964. Soldiers returning from WWII caused a rise in the birth rate of the United

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.

The aging of the baby boomers is not just a demographic issue. It has important economic implications. Owen and Griffiths (2010) argue that the baby boomers can best be seen as a generational bulge that occurred between 1946 and 1964. This generational bulge is so large that it drives the economy during each state of the baby boomers lives (p. 76). This suggests that the aging of the baby boomers is a demographic issue with important economic implications.

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.

However boomers and “non” boomers alike will face social changes as this group matures into their late adulthood. Many boomers prepared for their retirement by working hard and saving money. Boomers such as my own parents are good examples of how boomers will be affected. They did not over extend themselves during the recession and they made wise financial decisions. They invested what was perceived as healthy investments in real-estate and the stock market only to take on major economic losses in the last decade. Although my parents are not struggling to make ends meet, the rising cost of insurance and health care may have negative effects on their finances in the next decade.

This phenomenon occurred almost exactly 9 months after WWII. Some historians like Landon Jones says,“the cry of the baby was heard across the land.” In 1946 3.4 million babies were born an all-time high for U.S., this was 20 percent more than in 1945. This change caused what is now known as the “Baby Boom.” The babies didn't stop there in 1947 another 3.8 million babies were born, then in 1952 3.9 million babies, and then they’re forward from 1954 to 1964 4 million babies were born each year. “By 1965 the cry of babies ended, leaving 76.4 million “Baby Boomers” living in the United States.[1]” “Baby Boomers” made up of 40 percent of the United States population.

After the war came the post war “Baby Boom.” According to the U.S. Census Bureau, the birth rate increased dramatically from 2.49 to 3.77 between 1945 and 1957. The number of children ages 0-4 went from 11,000,000 to 16,410,000 and continued into the sixties were it peaked 20,000,000. The number of children under the age of nineteen rose from 51 million to 69 million. Nevertheless, the number of adults age ranging from 20-64, had also increased,

A few of the most common occupations for baby boomers include, but are not limited to, office clerks and administrative support services, accounting and bookkeeping, sales management/business management/middle management, manual labor and construction workers, law enforcement, elementary school teachers and nurses (“Selected Post”, n.d.). Women were typically the ones found working clerical jobs because of the financial stability and convenient work schedule that these jobs provided (“Selected Post”, n.d.). Throughout the baby boomer generation, many of the college graduates pursued careers in bookkeeping and accounting, as well as in middle management, sales, and business (“Selected Post”, n.d.). For those who didn’t receive a college education, manual labor and construction jobs were popular due to the fact that workers could start without having an education and could easily learn the required skills while on the job (“Selected Post”, n.d.). Law enforcement was yet another common career path chosen by baby boomers because they wanted to make a difference in their

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

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.

“The number of employees over the age of 55 has increased by 30 percent; however, the number of 25- to 54-year-olds has only increased by 1 percent” (Claire, 2009). In 2008 the eldest of the 77 million baby-boomers turned 62. Estimates are that by the end of the decade about 40 percent of the work force will be eligible to retire. As people begin to reach the age of retirement there may be not be enough new employees to fill the gap (Clare, 2009). Companies need to find ways to attract Boomers and Millennials. Companies that want to attract Boomers and Millennials need to be creative in their culture, HR policies and work environments.