Baby Boomer Marketing

Everyone in the business world is a buzz about marketing their products to U.S. Baby Boomers (people born between 1946 and 1964 after WWII and in that big baby boom that happened post war in peacetime) They are a hot target for companies these days for the following reasons:

1. There are far more of them than in coming younger generations.

2. They have money. They have been ardent savers for their retirement and now need somewhere to spend it.

3. They are mostly in better health than past retired generations because of advances in medicine and will live longer too.

4. They still have energy and are interested in new fun things, provided it’s not too out there.

 So, how do you find out if your product or service is a good fit for the Baby Boomer generation? Well a new survey report is out today that has some answers to what Boomers like and dislike and how different they are in these categories from other generations. From the center for Meida research; See below:

BoomerView Snapshot Percent of Baby Boomers who…
% of Boomers % More/Less Likely than All Adults
Personally carry any medical, hospital or accident insurance

76.8%

+6%

Voted in a federal, state or local election in the last 12 months

55.0

+22%

Have a regular (2+ times weekly) exercise program

42.4

+2%

Played the Lottery in the last 12 months

41.0

+18%

Say “Preserving the Environment” is a very important guiding principle in their lives

40.7

+11%

Believe they will be better off financially in the next 12 months than they are now

39.1

-5%

Live in a household that owns or leases at least 3 vehicles

35.6

+31%

Did home remodeling in last 12 months

30.8

+21%

Signed a petition in the last 12 months

21.7

+21%

Own a Giant Screen TV (>42″)

13.9

+10%

Source: MRI’s Spring ’07 Survey of the American Consumer

Additionally, the summary notes that:

  • Almost four in 10 Boomers believe that they and their household will be better off financially one year from now. And, close to 90% believe they will be either financially “better off” or “the same” one year from now.
  • A fairly large portion of Boomers are potentially unprotected financially should they face serious medical issues. Almost one-quarter (23.3%) report that they have no personal medical, hospital or accident insurance.
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