Marketing to Leading Edge Baby Boomers: Perceptions, Principles, Practices, Predictions

Citation

Cook, G.R. (2007), "Marketing to Leading Edge Baby Boomers: Perceptions, Principles, Practices, Predictions", Journal of Consumer Marketing, Vol. 24 No. 7, pp. 447-448. https://doi.org/10.1108/07363760710834898

The book was first published in 2003. Now in its 2nd edition, it provides an excellent background and insight with regard to the development and deployment of an effective marketing program directed at the largest and most popular consumer segment ever – The Baby Boomers! Much has been written in the past on this huge consumer segment that offers phenomenal opportunities in the marketplace for goods and services, and now this important segment is reaching the retirement age, with marketers having an opportunity to capitalize on mermbers' enormous assets and spending power. That is “if” marketers fully understand their changing wants, needs and desires – a big challenge for Marketers!

The book is divided into four parts made up of 50 relatively short bite‐size chapters. This review will provide you with key messages on a part‐by‐part basis. The four parts of the book are: Perceptions; Principles; Practices; and Predictions.

In the first part of this very interesting book – Perceptions – the author defines the Baby Boomer Generation as being born between the immediate end of World War II and approximately the end of 1964. Over 75 million births were recorded during this time period, and the sheer size of this so called “population explosion” has had a profound impact on mass marketers who have tried to read the market, develop appropriate products and services, and effectively market to this generation throughout the years. However, one of the author's key points is that in this marketing effort, marketers have disproportionately focused on the top 25 percent of the generation who were born to white collar professionals with post‐secondary educations v. the remaining 75 percent of the generation that came from poorer households, small family farms, or small family business backgrounds (p. 5).

The author's primary focus is what he refers to as the “Leading Edge” Baby Boomers, those born between 1946‐1955, the first ten years of the boom. This segment of consumers over age 50 now hold three‐quarters of the country's financial assets. By 2010, nearly 33 percent of American adults will be over age 50, and they will have nearly $800 billion in combined economic power! (p. 7). Reach this enticing segment with relevant, powerful and meaningful messages related to the right products and services and you will be financially rewarded beyond your wildest dreams!

The author talks about the biased viewpoints held by society in general on the Baby Boomers, in particular regarding burning flags and draft cards, demonstrations, confrontations with the police and authorities, indicating that much of this bias was perhaps caused by the media's inappropriate focus on a smaller segment of the generation. Boomers dislike society and in particular companies that imply a lack of patriotism on their part, and they will not patronize such companies.

The Baby Boomer Generation seemingly has been labeled or stereotyped with far too many negative images: self absorbed, unpatriotic, self indulgent, social piranhas and desirous of being catered to. Companies wishing to successfully market to this generation must discount these negative images and more clearly focus on what the Boomers really stand for and what they really want in goods and services as they head into their later years.

In Part Two, the author deals with a number of principles that are key for the Boomer Generation in terms of the way they see things, the way they manage their day‐to‐day lives, and ultimately the consumer behaviors they exhibit in the marketplace. A key point is made: “The Boomer Generation has clearly led the way in terms of helping create major transformations in our society such as: McDonald's and the fast food industry; thirst for foreign cars; desire to control weight and have healthy bodies, jogging, exercise equipment and the NIKE phenomenon – Just Do It!”.

The author mentions that Boomers seek value in their products and services and their lifestyle choices. Here is where effective marketing communications come into play in that we can only market or sell to our targeted customers what they value and hold dear. It is critical, then, that we fully understand these core values, beliefs and attitudes of the Leading Edge Boomers if we expect to successfully reach them. The author goes into detailed descriptions of a set of values held by this generation and the specific marketing implications associated with each.

The Baby Boomer Generation created the first youth culture in American as they reached young adulthood – music, dress, attitudes and social agenda that dominated the mass media. The Boomers have never stopping being or thinking young, and it looks as if they never will. Here too are significant marketing opportunities for those companies that understand the message.

This important generation is faced with many challenges, as we all are: Outsourcing and loss of domestic jobs; corporate downsizing, business closings, intense foreign competition, all of which can negatively impact our opportunities to grow form a career and economic perspective. They have a personal obstacle of “never wanting and refusing to grow old” and engaging anything that will help in this regard: cosmetic surgery, exercise equipment, changing clothing styles, and even buying a Harley Davidson. Companies in these industries and others such as: travel, retirement communities, investment and financial planning, pharmaceutical companies and others can certainly take advantage of such needs if they fully understand the Boomer's requirements inside each of these industries. In marketing to this segment, one must not forget that they are looking not just for the functionality of the product or service, but more importantly at the “total experience” of buying and using the offering as it relates to their core values, beliefs, memories and attitudes.

From a marketing communications perspective, it is recommended that we pay particular attention to the medium selected and not just the message…since it would seem that the medium is the message from the boomer's perspective. The quality of the medium (be it the Internet or TV) appears to be key. Boomers are also susceptible to and appreciate marketing communications that include music of their era – Rolling Stones, Rod Stewart, Elton John, etc. This serves as a connecting point to their generation.

In Part Three the author discusses some of the practices that marketers will need to utilize to be effective in engaging the Boomers. Aligning product development; marketing communications and company offerings that relate to their values will be important. Advertisements featuring individuals from the Boomer generation with intelligent messages that make sense to them will be effective. In particular, the field of advertising copywriting will be an important activity to assure that word choice and implied meanings within the message are pertinent and relevant to this generation. The author refers to some of the recent past messages that were effective: “Just Do It!”; “You Deserve A Break Today!”; and “Where's the Beef?” He suggests that companies that honestly engage and earn Boomers' trust and respect will build a connected, long‐lasting relationship producing loyalty and huge economic rewards.

In Part Four, the author deals with what can happen as the Boomer generation transcends retirement and the latter stages of life – the pressures they will feel both economically and emotionally, the unwillingness to surrender to the inevitable aging process, and the necessity of adapting to change that is about to take place.

To be effective, marketers to the Baby Boomers and, in particular, to the Leading Edge Boomers, must understand their deep‐rooted feelings to their past, their strongly‐held beliefs and core values relating to society in general, and their uneasy feelings about the aging process if they are to realize the enormous economic potential that this highly popularized generation has to offer.

The author closes the book with a description of a type of promotion or marketing plan that could be effectively use by marketers trying to reach the boomer generation.

As a final comment, the author provides some interesting insights into this generation segment and how and what marketers must incorporate in our marketing messages if we are to be ultimately successful. While a significant amount of the information provided has been available from previous publications on the subject, the book is well worth reading for those in marketing who have a need to know.