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Baby Boomers

Submitted by miss_nicolle12 on October 29, 2006

Category: Book Reports
Words: 1066 | Pages: 5
Views: 444
Popularity Rank: 26,490
Average Member Grade: N/A (Add a Comment / Grade this Paper)

Baby Boomers are the most powerful demographic group in history. Businesses thrives or fails based on their ability to keep pace with the likes and dislikes of this economic powerhouse known as the baby boomers. At 76 million strong, boomers have the influence to rule the marketplace and make sure they keep a place set just for them as the
largest generation. Due to its large size, the Baby Boom generation has had a significant impact on society, business, and the economy. The impact of the generation has been felt in all areas of consumer spending, from increased sales of baby products when they were young; to rising demand for houses as they set up their own households; to growth in retirement savings vehicles as they prepare for their senior years. Members of the Boomer generation share many characteristics, making it possible for companies to target the
group as a whole. But there is also considerable diversity. Boomers are more racially and
ethnically diverse than older generations. Up-to-date consumer research helps companies
target specific categories of boomers and develop products that take advantage of the
changes in this important generation. Tracking Baby Boomers such as their consumption
patterns, voting preferences and annual income has preoccupied demographic forecasters
ever since this huge generation came on the scene in postwar America. There is no doubt
that the approximately 78 million Boomers, born between 1946 and 1965, and still
represent the huge demographic market segments. Now in middle age and in their prime
earning years, Baby Boomers' economic influence is reaching its peak and, as in the past,
the group continues to shatter the precedents set by earlier age groups: Boomers are
redesigning the lifestyles in which they live, consumer patterns and location preferences
of each new life stage they enter.
Many people in the...

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