Generational Marketing

'Your only as old as you feel'

The era that a consumer grew up in immediately creates a bond with the millions of others that were also born into that era. As we grow older our needs and preferences change and that is often in unison with other people of the same age. A consumers age gives influence to his or her identity and then also on their spending patterns. The method of marketing to a specific generation is affecting the way that we promote and sell products, therefore in order for a marketer to appeal to diverse age subcultures they must understand the characteristics of key age groups such as:

Millennials: or Generation 2001ers, born after 1980-

It is thought that todays teens are recasting the image of youth from downbeat and alienated to upbeat and engaged. Millennials are held to higher standards than adults apply to themselves, they're a lot less violent, vulgar and sexually charged as the teen culture older people are producing for them, and it is thought that over the next decade they will totally recast what it means to be young and in time they could emerge as the next great generation.

Baby Busters or Generation Xers: born between 1965 and 1980-

This age group includes people, both in and out of higher education, whose taste and priorities are beginning to be felt in fashion, popular culture, politics and marketing. They are thought to still live at home and so have more discretionary income and products mostly bought by them are beer, fast food and cosmetics. They can be targeted with advertising that is entertaining but not if it takes itself too seriously. Vice president of Marketing for MTV said: "You must let them know that you know who they are, that you understand their life experiences. You want them to feel you are talking directly to them".

Baby Boomers: born between 1946 and 1964-

Boomers represent a major economic force in many developed markets and due to their sheer size have tended to reshape each phase of life as they have have passed through it. Important drivers such as spending power, attitudes towards retirement and health/fitness as well as living trends and travel are focused on. attention is paid to their impact on specific markets and their impact on retail trends.

Mature Citizens: born between 1909 and 1945-

Populations are aging due to the fact that people are living longer as a result of medical advances, rising disposable incomes and increased awareness of health and nutrition. They tend to be more set in their ways, more frugal and less hedonistic and more likely to save than to spend freely, however, like boomers they do intend to enjoy their retirement.

I am part of Generation Y. We are typically children of affluent baby boomers. My generation is entering its student years or embarking on their professional careers. Many are still single, very technology-driven, fashion-conscious, status-aware, keen to spend and not affraid of credit (as i have just found out when my card was refused and i realised i had reached my overdraft limit ahhhhhhh! oh well not to worry!) And they have high expectations of themselves and others. Market focus on cosmetics and toiletries, consumer food service, and alcoholic drinks (All the important things then!)

Age cohorts are groups of people with similar ages who have had similar experiences, therefore they experience many of the same memories and have the same cultural heroes. Marketers will often target products or services to one or more of these age cohorts and they will use different campaigns to attract different age groups, and to differentiate these campaigns they will use different media, images and prices.


Take a read of this article: Power of Generational Marketing