33:630:301 Lecture Notes - Lecture 5: Baby Boomers, Telecommuting, Generation Z
Document Summary
Demography - the study of human population in terms of size, density, location, age, gender, race, occupation, etc. The single most important trend in the us is the changing age structure of the population. Baby boomers- currently 74 million; people born during post-world war 2. Account for about 22% of the us population but control 42% of the spending power. Lucrative market for financial services, new housing remodeling, cars, travel, entertainment, eating out, health and fitness, etc. Fastest-growing shopper demographic online, outspending younger generations 2 to 1. Generation x - lies in the shadow of the boomers; born between 1965-1980. Sensible shoppers who research products heavily before they consider a purchase, prefer quality to quantity, and tend to be less receptive to overt marketing pitches. Once they find a brand, they tend to be more loyal than other generational groups. More receptive to rreverent ad pitches that make fun of convention and tradition.
