Generations

Generational Marketing
The method of marketing to a specific generation is affecting the way that we promote and sell products and services. We are all a product of our generation. Each generation have their own characteristics, because of this as a marketing target we can usually categorize by generations by the way that we act and speak as well as our belief systems.
There are different groups that can be associated to a particular date, these can say alot about who those people are and also what their attitudes are like towards marketing and values. Many marketing companies look at 'generations' for a target audience.
1.Millenials or Generation 2001ers, born after 1980
2.Baby Busters or Generation Xers born between 1965 and 1980
3.Baby Boomers born between 1946 and 1964
4.Mature Citizens born between 1909 and 1945

This diagram shows when certain generational groups date from and the populations of those different groups. We can see that at some of the groups there is a large fluctuation in population and baby booms, these started from after the WW2 because of this you are then faced with another rise in population in the 60's because those who were born after the war are now reproducing.

You have see for yourself and look to the future to what the population will be like in 1o years or how it currently is. Just go to this hyperlink: http://www.statistics.gov.uk/populationestimates/svg_pyramid/uk/index.html

There are many different aspects for marketers to consider when looking at generations as a target audience these include:
*Values
*Self-concept
*Nostalgia
*Group Membership
*Perception
These are key to being successful in generating the right product/service that will suit audience as it can create a relationship and build brand name and awareness.

Our task in the lecture was to look into one of the generational groups, ours was to look at over 50's and we decided to look for the 'young olds'. We were to find out their perception of the internet, what their favourite brands are and why, the population within the UK and their value system.
We found that their favourite brands tended to be those that had been around for a long time and they were seen to be reliable they included Marks and Spencer, Debenhams and John Lewis. On and online poll we found these were favourites because of the fact that you could find pretty much everything in one place, if you have grandchildren, children and friends you could buy everything there rather than having to look in many different shops. We found that Marks and Spencer have highlighted this and used it to their advantage creating nostalgic advertising to target the audience. http://www.youtube.com/watch?v=tFVivTXlaEo this shows a typical summer picnic which is popular with older women and will creat many memories.

Another advert which is very in toe with the over 50's generation is the 2007 christmas advert with Antonio Banderas it creates and old school black and white 'Marylin Monroe' film http://www.youtube.com/watch?v=2l8XIoauB6Y
Saga holidays was also very popular with the over 50's category for the reason that they regard travel as hugely inspirational and is one of main spending priorities, and many emmigrate abroad.

With a population of 21 million in the United Kingdom it is a great generational groups for marketers to target, they are very influencial on friends and family and if they like a product they are more likely to stay with that, and will use mainly large branded names because of reliability. This group may be harder than other to change their views and opinions on products if they have been using something for a long time they find it reliable they are less likely to change.