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Understanding Age Cohorts: Key Insights for Marketers

Learn how marketers can effectively communicate with different age groups, including teens, baby boomers, and the gray market, to tailor their strategies and appeal to their unique consumer identities.

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Understanding Age Cohorts: Key Insights for Marketers

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  1. Chapter 15 Age Subcultures

  2. An Age Cohort consists of people of similar ages who have undergone similar experiences. Marketers need to know how to communicate with members of an age group in their own language. General marketing strategies often have to be modified to fit specific age groups. Adults over 30 are most susceptible to Nostalgia appeals, especially for items associated with childhood or adolescence. Age and Consumer Identity

  3. Shared Experiences Shared Memories Age Cohort Identity Nostalgia Appeal Age and Consumer Identity

  4. Teens use products to express their identities, explore the world and their new-found freedoms in it, and rebel against their parents. Marketers often do their best to assist Teens in the above decisions. The five most important social issues for Teens are: AIDS, Race relations, Child abuse, Abortion, and The environment. Teen Values and Conflicts

  5. Want Independence but Need Support Teen Values and Conflicts There are Four Themes of Conflict Common to All Teens: Autonomy Vs. Belonging Rebellion Vs. Conformity Rebellion Against Social Norms but Want Acceptance Narcissism Vs. Intimacy Obsessed With Appearance but Want Sincere Relationships Idealism Vs. Pragmatism Must Reconcile How the World Should be With Reality

  6. Appealing to the Teen Market The Teen Age Group is Growing Nearly Twice as Fast as the General Population and is Expected to Number 30 Million by 2005. “Skippies” Spend $3,000 Per Year Family Shoppers “Savvy” Consumers Characteristicsof the Teen Market Influence Parental Purchase Decisions Wary of “Lies and Hype” “Consumers-in- Training”

  7. Baby Busters: “Generation X” 46 Million Born Between 1964-1978 Purchasers of Beer, Fast Food, & Cosmetics 20’s Busters Spend $125 Billion Yearly Sophisticated Shoppers Characteristics of “Generation X” Formidable Market Segment Many Diverse Segments

  8. Cynical Disdainers Traditional Materialists Most Pessimistic and Skeptical About the World Hippies Revisited Upbeat, Optimistic About the Future, and Actively Striving for the American Dream Fifties Macho Tend to Espouse the Nonmaterialistic Values of the 60’s Believe in Traditional Gender Roles, Politically Conservative, and Least Accepting of Multiculturalism “Generation X” Segments

  9. Xers’ Younger Siblings: “Generation Y” 29 Million Born Between 1979-1994 Self-Confident & Self-Reliant Cyber Savvy 63% Uses PC At Home Most Education-Minded Generation Characteristics of “Generation Y” “Unlikely” Voters “Latchkey” Generation

  10. Advertisers Spend $100 Million a Year to Influence Them Purchase $20 Billion Worth of Products a Year Media Habits The College Market Watch Less TV and Read Fewer Newspapers Read College Newspapers Reach Through Sampler Boxes Use of Posters (Wall Media) Spring Break

  11. Baby Boomers, those in their mid-thirties and fifties, exert the most impact on consumption patterns. The reason: Power in Numbers. The “Woodstock Generation” created a revolution in style, politics, and consumer attitudes. Consumers aged 35 to 44 spend the most on housing, cars, and entertainment. Consumers aged 45 to 54 spend the most of any age on food, apparel, and retirement programs. These consumers have created a new baby boom of their own called Baby Boomlets and they are part of a new emphasis on children and family. Baby Boomers

  12. The Gray Market includes people over age 65 who head over 18 million households. By 2010, one in every seven Americans will be over 65. The Gray Market is the second fastest growing segment, only behind the Baby Boomers. They control over 50% of all discretionary income and spend $60 billion annually. Most older people lead more active, multidimensional lives than we assume. Their economic health is good and getting better. 80% own their own home. The Gray Market

  13. Altruism Autonomy Key Values That Motivate Older Consumers Connectedness Personal Growth The Gray Market

  14. Older 55 - 64 Elderly 65 - 74 Subsegments of the Mature Market Very Old 85 + Aged 75 - 84 Segmenting Seniors

  15. Keep Language Simple Use Clear, Bright Pictures Use Action to Attract Attention Speak Clearly, and Keep Word Count Low Use Single Sales Message Avoid Extraneous Stimuli Guideline for Effective Advertising to the Elderly

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