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BABY BOOMERS

Marketing Targets Baby Boomers

Baby Boomers Carry Half Of Nation's Purchasing Power

POSTED: 8:19 am PDT September 23, 2008
UPDATED: 8:03 am PDT September 24, 2008

By Michael Thompson, Contributing Writer

Once upon a time, most television shows and advertising were geared to the age 18-34 demographic. But that was when many baby boomers were in that age group. Now that boomers are age 44-62, ad strategy has changed.

Marketing gurus constantly point out that America's 78 million boomers, born 1946-1964, comprise 28 percent of the population but carry more than half of the purchasing power. This number ranges from $2.1 trillion to $2.3 trillion.

Young adult offspring of boomers may ask, "Why do all these TV commercials have such old songs (usually pop or soft rock) in the background? Where's the hard rock and hip-hop?" The answer is because on average, the well-established boomer has at least twice as much discretionary spending power as the up-and-coming young adult.

"Due to their purchasing power, (boomers) have shaken up every major industry with their immediate and long-term consumer needs," said marketing expert Connie Werner Reichert on the Web site Work.com.

First, boomers prefer to be described as "experienced" rather than "aging," although they like being called "mister" and "misses" (or "Ms."), Reichert says. They desire product information that is clear and easy to read. They are not as loyal to brand names as their parents and grandparents.

In one sense, Reichert said, boomer shoppers are extremely patient. They resist hard-sell/fast-sell sales pitches. But once they make a choice, suddenly they are impatient and they really like same-day services or deliveries.

Boomers spend more time reading than their children, and so advertising in newspapers still works. Special-interest publications are flourishing for such pastimes as hunting, golf, tennis and travel.

Many age 44-62 will search the Web, but often they are not as sophisticated as the younger specialists who prepare the ads. Simple is best for an Internet ad; bells and whistles can be counterproductive.

Of course, there is no "one approach fits all" for a group as vast and diverse as baby boomers.

"This huge generation includes people who are still in their mid-40s," Marketing expert Donna Fenn said. "They would rather commit hara-kari than join AARP. So any kind of marketing that looks like it's targeting seniors (i.e. with larger type) is going to fall flat with younger boomers."

Still, some marketers find common baby boomer threads.

"As ever, baby boomers will scrimp and splurge to share the good life with loved ones, from kids to pets to aging parents," says marketing analyst Corrine Asturias of Iconoculture.com. "Fave indulgences are food, travel, creature comforts, tech toys, fun fitness, hobbies, and a well-feathered nest for entertaining."

Potential for new product development to serve boomers is strongest in relation to personal health, says Steve French, managing partner of the Natural Marketing Institute.

"Based on boomers' desire to age gracefully, live a healthy life and maintain quality of living, the notion of healthy aging is being transformed across many industries," French said. "The unification of health, wellness and sustainability creates a plethora of solutions. Look for innovative, new products and services that provide such integration."
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