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Why are Baby Boomers such a lucrative market?
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- How is women's preferences for cosmetics and beauty care different in various regions and countries?How would your approach to buying a computer differ from yourparents’ approach? What about buying an outfit to wear to a party? Howcan firms use their knowledge of different age or generational cohortsto market their products and services better?Let’s say that a suburb is experiencing a boom in young couples buying homes. Give two examples of retailers who could benefit from there and why?
- Your book talks about the generations and their characteristics in Chapter 5: Seniors ( before 1945), Baby Boomers (1946-1964), Generation X (1965-1979), Generation Y/Millennnials, Generation Z. Research the generation that you were born in (note - not all researchers agree on the cut-off dates!). Summarize the characteristics of your generation. Choose one of the following companies: Starwood Hotels Unilever Pottery Barn Subaru Coca Cola Identify a product offered by one of these companies that is marketed toward your generation and explain why you think so. Explain the 4 P's for the product.Who are Millennials?What are the potential drawbacks of creating separate products and marketing programs for each generation: the Baby Boomers, Generation X, Generation Y, and Generation Z?