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Baby Boomers I 1946-1954

Baby Boomers I 1946-1954. Craig Anderson Scott Bittinger Shefali Desai Allison Hearty. Education Level. Most educated generation 88% completed high school 28.5% have a Bachelor’s Degree or more Today many are returning to college. Core Values.

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Baby Boomers I 1946-1954

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  1. Baby Boomers I1946-1954 Craig Anderson Scott Bittinger Shefali Desai Allison Hearty

  2. Education Level • Most educated generation • 88% completed high school • 28.5% have a Bachelor’s Degree or more • Today many are returning to college

  3. Core Values • Family and home life is viewed as an achievement • Long-term friendships • Getting away from it all • Spiritual fitness • No midlife standstill

  4. Early Lifestyles • Nuclear Family Household - Good Provider/ Nurturing Mother - Ozzie and Harriet, Father Knows Best, and Leave it to Beaver. • School life • Entertainment - Barbie and GI Joe - Yo-Yos - Bikinis were introduced • Jobs - Paper routes - Yard work - Babysitting

  5. Coming of Age • Historical events • 1960- The Cold War • Russian Bomb Scare • Kennedy is elected President • 1961-Space Race with the Russians • Alan Shepard flies into space • John Glenn flies to the moon • Neil Armstrong and Buzz Aldrin land on the moon

  6. Coming of Age • 1963- Kennedy is assassinated • Martin Luther King Jr’s “ I had a dream” speech • Women’s Liberation Movement- publications of the Feminine Mystique by Betty Friedman • 1965-Vietnam War • 1965-Vietnam War • Anti War protest in 40 American Cities • ended 1973 , also military draft ended • 1968- Martin Luther King Jr assassinated • 1970-Kent State Riots

  7. Coming of Age Social Events • 1960-Dance craze- the Twist • Baseball is America’s Favorite pastime • Roger Maris breaks Babe Ruths record with 61 home runs • 1962-Johnny Carson hosts the Tonight Show for 30 years • 1964-US surgeon general declares smoking bad for health • 1964Beatles invasion • Breaks up in 1970 • 1967-The first super bowl, • Green Bay Packers won over Kansas city • 1969-Four day concert at Woodstock

  8. Spending & Saving Average Boomer Household Spends $46,160 Compared to Average Household: • 11% less on toys, pets and play equipment • 50% less on children’s clothing • 50% more on House ware items • Apparel: Men 11% more; Women 13% more • Insurance: 20% more • Vacations: 23% more • Tuition: 47% more

  9. Family Friendship “Forever Young” Hard Work Money Power Money & Wealth Power Luxury Owning a Home Early Retirement Motivation & Goals

  10. Products • As Baby Boomers age, they look for products that: - Keeps them looking young, and feeling young - Helps them stay physically fit - Have value at a reasonable cost • The label and designs on this products need to be: - Easy to read - Accessible to all people regardless of age - Easy to grip, and open

  11. Advertising Response • Never make this group feel or appear to be old! • Even with humor, one must be cautious. • Mike and Linda Leavene

  12. Success and Failure • Some industries have established strong relationships with the 50 something boomers • Insurance, Investments, Retirement, Pharmaceuticals, and Natural Health • AIG, Centrum, Viagra • Other industries have failed to connect with this booming market • Entertainment, Label Textiles, and Restaurants

  13. Points of Interest • Did you know…every 7.5 seconds someone in America turns 50? • The 50+ age group: • Is the fastest growing population segment. • Account for over 40% of total consumer demand. • Average $24,000 in annual disposable income. • Own 79% of America's financial assets. • Own 62% of all large Wall Street investment accounts. • Visit malls more often than any other age group. • Dine out 4 to 5 times per week. • 78% make online purchases. • Over 70% are willing to try new brands. • Spend over $29 Billion yearly on grandchildren's gifts. • Women over 50 spend $21 Billion on clothes annually.

  14. Wrap Up • Marketers need to target Baby Boomers because - They are highly educated - They have experienced ups and downs of social and historical events - They have great deal of purchasing power - They enjoy spending money frivolously - They will splurge more on luxury items such as a 5 star hotel or restaurant - Approaching or recently turned 50 - They value and maintain relationships • Could be a loyal customer • They do not represent a homogeneous segment

  15. Questions Thank You!

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