Marketing to Different Generations

In the last blog post I talked about marketing campaigns targeted towards specific demographics. In this blog post, I will be addressing something a little different: marketing campaigns targeting specific age groups. Targeting a certain age is a key part of defining a target market.
There are a few defined "generations" in America today. They are the Baby Boomers, Generation X, Generation Y, the Millenials, as well as the pre-Baby Boomers, which aren't defined in any specific terms.

The Baby Boomers are the part of the population that was born between 1946 and 1964. America after World War II was a busy time for baby makers. This is evident when you look at the 76 million Baby Boomers in America, which account for about 25% of the population. The boomers were knows for working, and working hard, and today they account for 50% of all consumer spending.

Generation X were those born between 1965 and 1976. This generation was also known as the baby bust, since birth rates were declining. They make up about 15% of the US population. This generation is more educated than the previous generation, but they also have less net worth than the previous generation. Generation Xers are self-reliant and more supportive of racial and ethnic diversity than the baby boomers.

Generation Y were those born between 1977 and 1994. Generation Y are the children of the Baby Boom, which is why their population is around 72 million, or 22 or 23% of the US population. Generation Y maintain a work-life balance, as opposed to their Baby Boomer parents who worked all the time. Generation Y is also on the cusp of the computer age, with many growing up as the computer became a household object.

The Millennials are the generation born after 1994. The Millennials are unique in the fact that they grew up using modern technology their entire lives. Therefore, this generation is particularly computer savvy, especially compared to the Baby Boomers or later generation. Late Generation Yers and the Millennials get blended together, as there is no specific definition for the millennial generation. The Millennials are said to be focused on work-life balance and are self-entitled.

Obviously, these different generations each have their own values and beliefs. Marketing seeks to discover the needs and wants of prospective customers and to satisfy them. Each generation also has unique needs and wants that need to be filled. What are some things that marketers have done to fill the needs and wants of different generations?

The generations before the Baby Boomers all have one thing in common: they are getting old. With old age comes health problems, and pharmaceutical companies are now doing more business than ever.

Commercials like this one play all the time, and usually involve an older individual doing an activity they used to do when they were younger. This appeals to their desire to feel like they did when they were young. A good place to see commercials like this one is by watching Jeopardy, a game show that old people love.

The Baby Boomer generation's targeted ads are a little different. Take for example this recent Viagra commercial:

This ad is clearly targeted towards the Baby Boomer generation. For one thing, not many generations younger than the boomers have a significant need for Viagra. For the Baby Boomer generation, sex is still an important part of their lives. This commercial in particular narrows their target market directly to men. Unlike other Viagra or Cialis commercials, there aren't any women in this ad. The ad shows a good looking and independent man solving his own problems. It is encapsulated with the slogan, "This is the age of knowing what needs to be done." The Baby Boomer generation doesn't like being reminded of their age, or the fact that pharmaceutical companies are targeting them in their ads. Viagra's slogan comes across as a Viagra user taking his problem into his own hands and solving it independently. At the end of the day, he goes home to his house, the bedroom light turns on, and the rest is history. I'm not even going into the amount of sexual innuendos that are in this ad and ads like it, but if you watch it I'm sure you'll be able to figure some out for yourself.

Generation X are now coming to be what the Baby Boomers were: the generation at their peak earning potential that are starting families. Certain industries, such as car companies, have started targeting Generation Xers as the up-and-comers in terms of family life.

This 2011 Volkswagen commercial is strongly targeted towards Generation X. First of all, the kid dressed as Darth Vader is a throwback to the eighties when the original Star Wars were released. That is a reference that not many Gen Xers are likely to miss. The parents in the commercial are 30 or 40 somethings with a young kid. There is an emphasis on family; they own a dog, and it can be assumed that the kid either has a sister or is a girl. Finally, the convenience and luxury of the Volkswagen car, complete with a self-starter, appeals to the Gen Xers who value material goods.

An example of an ad targeted towards Gen Yers or Millennials would be this Verizon ad.

The commercial features a Millennial-aged girl who is interested in Science. The Millennials believe in  doing work that is meaningful to themselves. They are also independent and more tolerant of social deviation than previous generations. This Verizon ad makes it a point to question these norms of society and let kids pursue what they want to pursue. The message this ad portrays is a common theme among Gen Yers / Millennials.

As a marketer, it is important to understand the differences that arise from ages and generations. Age is one of the key factors that alters a consumer's buying habits. Whether it is because of the amount of money they have or the different experiences they've had that have altered their values, generational differences in a society are important for a marketer to understand.