What do baby boomers value
and want?
Woodstock Poster
Background
• A baby boomer is a certain demographic that
was born between the years 1946(61) and
1960(47) following WWII.
• A large part of the baby boom after the WWII is
attributed to the economic growth in North
America. Exporting goods to foreign countries
who were rebuilding there economies which had
been demolished.
• This provided the necessary resources and
stability for parents to have more kids.
Maslow's Hierarchy of Needs Pyramid
Baby Boomers
University Students
Marketability
• Baby boomers are the most
powerful age segment
because of the segment's size
and economic clout.
 No other generation in history
has been more intensely
watched than Baby Boomers.
Anything "boomer" makes
headlines. And for good
reason, with an estimated
annual spending in the $2
trillion range.
A study in 1985 by Schuman and Scott asked a wide range of adults "What
world events over the past 50 years were especially important to them? For the
baby boomers the results were:
• Baby Boomer cohort #1
(born 1946 to 1954)
Memorable events:
•
•
•
•
•
Assainations of JFK, Robert
Kennedy, and Martin Luther King.
First man to Walk on the Moon.
Vietnam War, Anti-war protests.
Sexual freedom, civil rights
movements, womens rights,
environmental movements,
protests and riots.
Experimentation with various
intoxicating recreational
substances.
• Baby Boomer cohort #2
(born 1955 to 1964)
Memorable events:
•
•
•
•
•
•
Watergate – politcal scandals
Nixon resigns
The cold war
The oil embargo against US
Raging inflation
Gasoline shortages
Values and Wants
• The needs and desires of baby boomers affect demands for
housing, child care, automobiles, clothing and financial services.
• Traditionally many marketors ignored this age segment due to the
stereotype that they were inactive and spend to little.
• This stereotype is no longer accurate as many older adults are
healthy, vigorous and interested in new products and experiencesand they have the income to purchase them.
In 2004, the UK baby boomers held 80% of the
UK's wealth and bought 80% of all top of the range
cars, 80% of cruises and 50% of skincare products.
Marketing Approach
• Identify Values - Experimental, individualism, free spirited,
social cause oriented, less optimistic, distrust of government,
general cynicism.
• Identify Wants – Security, Luxury, Good health, Value
added, Quality products.
Baby Boomers Era
• Celebrity icons
include:
• Slyvestor Stallone
• Gene Simmons
• Magic Johnson
• David Bowe
• Jerry Seinfeld
• Madonna
• George Clooney
•
•
•
•
•
•
•
Films:
Jaws
Jurassic Parks
Indiana Jones
Rocky
Rambo
Popeye
Chart
•
The population of pre-retirees and retirees is projected to increase by
30 million by 2020, and to account for about half of the US population,
compared to 44 percent in 2002.
•
Conclusion
• Marketers should focus there scope on the
values and needs of the baby boomers
demographic in tailoring there marketing
campaigns.
• If a marketer can tailor there campaign around
the values and needs of this demographic the
potential for a successful million or billion dollar
company is attainable. Ex. Jewelry, Tourism,
Fashion, and assisted living.
Questions
?