The differences in customer motivations and decision processes between customers in the first and second half of life sometimes frustrate many marketers who have yet to figure out how to market to Baby Boomers (born 1946 to 1964). Until the last decade, this was not a matter of serious concern because the young dominated the marketplace. The young are easier to sell to and analyze. Now, with approximately 109 million adults over the age of 50, marketers are being compelled to figure out the values and behavior of Baby Boomers. Jim Gilmartin, President, Coming of Age, outlines “10 arrows for your quiver.”
- Increased individualism
- Increased demand for facts
- Increased response to emotional stimuli
- Less self-oriented, more altruistic
- Increased time spent in making purchase decisions
- See fewer differences between competing products
- See more differences between competing companies
- Concerns making discretionary-purchases decisions
- Increased price-sensitivity (in non-discretionary spending)
- Often project what seems to be contradictory behavior
Jim Gilmartin. 10 Arrows For Your Quiver. MediaPost.
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