The Demographic Environment

• Demography: The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics

• The changing age structure of the U.S. population is a significant demographic trend

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Baby Boomers

• 78 million people born between 1946 and 1964• Wealthiest generation in history• Account for 50% of consumer spending • Hold ¾ of the nation’s financial assets

• Recession hit baby boomers hard, eating into savings and retirement prospects

• Represent strong targets for financial services

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Generation X

• 49 million, born from 1965 to 1976

• Most educated generation to date

• Less materialistic than other groups

• Skeptical of marketing

• Careful spenders Virginia tourism now aims its well-known “Virginia is for Lovers” campaign at Gen Xer families, who want new experiences close to home

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Millennials

• 83 million, born between 1977 and 2000• $733 billion in purchasing power• Ethnically diverse• Fluent with digital technology• Personalization and product customization are key to

marketing success

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Millennials

The Keds campaign—“How Do You Do?”—engages Millennials through print ads, a micro Web site, YouTube videos, Twitter, Facebook, brand ambassadors, artists, and a mobile campus tour

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Fuel for Thought

• Do marketers need to create separate products and marketing programs for each generation?

• Discuss products or services for which generational marketing will be effective and those for which other types of segmentation are more appropriate.

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Baby Boomers

• Baby Boomers with Tom Brokaw• Baby Boomers - Tom Brokaw

DROP BOX ASSIGNMENT – Marketing to the GENERATIONS

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