Case : Marketing Research Reveals Marketing Opportunities in the baby boomer generation
Marketers target was between ages 18 to 34 to promote product. They think if they started earlier that make them lifetime loyal customers. The researchers find out the baby boomers increase the profit by their spending. Also, they evaluate $3,4 trillion in annual buying power.
There's a huge different between the baby boomers and previous generation. They want collection of different products available to them. The researchers figure out the older generation bought the same cars and technological product. They made a study research to understood how old consumers shop.
They shared the research with different business. Some of businesses use it to create retail environment and others use it to redesign their products.
Questions:
1. Why are baby boomers such a lucrative market?
2. How has the marketing research process been used to understand how baby boomers shop and interact in stores?
They using the research to study how baby boomers shop and what they desire in product. In addition, they design their promotion in way that interact the baby boomers generation.
3. How have stores used marketing research findings to tailor their stores and products to appeal to baby boomers?
The businesses used the marketing research to redesign their retail environments and their products. For example : Diamond Food Inc, designed the packaging of its Emerald snack nuts to be more easily opened and decrease the time it takes to rotate the caps to open the products.