Topic
The chosen topic for discussion refers to the one presented in the “Week 6 Reading & Resources” category – marketing to different generations.
A Summary of the Topic
Marketing to different generations is a special marketing area, narrowly focused on determining consumer needs based on the four main demographic generations. The main generations include baby boomers, generation X, Y, and Z (Wong, 2021). Undoubtedly, each of them needs its approach and special interaction tactics (Wong, 2021). It is a special strategy that uses the generational segmentation of consumers in communication processes (Lister, 2021). There are an infinite number of ways to segment customers. Nevertheless, the main “selection method” is carried out based on a certain period, age, and life stages comparable to some values, views, and beliefs (Lister, 2021). It is no secret that every product or service has its target audience. Hence, a twenty-year-old student is more likely to buy one set of things, while an older adult is completely different. This business area aims to implement competent interaction with a consumer in terms of taking into account needs and opportunities. In this situation, it is necessary to focus on those aspects that reflect the answers to questions about how buyers look for goods, where they buy, and what they expect. This is the main essence of this type of marketing.
The Importance of the Topic
The importance of this topic for the sphere of modern marketing is explained as follows. Primarily, knowledge and understanding of the needs and desires of people belonging to a certain age category is the key to implementing the intended goals and plans in the framework of marketing campaigns (Neese, 2020). Dividing the audience into several generations forms a clearer picture of the situation. Thus, a competent specialist will collect the necessary information about potential clients based on the worldview, values, ideals of people of a particular age, especially on the Internet (Marketing to children: Tips, tactics, and taboos, n.d.). The collected data will form a single and integral representation of the “inner world” of the target audience, allowing for direct communication between people and the best attitude to the brand or company. Such approaches allow one to avoid negative consequences and violent reactions of customers and set up a positive attitude toward the brand (Templeman, 2016). Moreover, understanding the principles and features of interaction with current generations helps attract consumers of “tomorrow” (Chohan, n.d.). Consequently, these measures allow one to build successful business plans and create competent marketing processes considering the prospects for the future.
The New Resource
In addition to the information mentioned above, I would also like to share an additional web resource related to this topic. The material I selected is an article from the Forbes electronic magazine. It says that there is a special “point of contact” between different, at first glance, generations (Talbot, 2021). According to recent studies, millennials, baby boomers, and generation Z and generation X share approximately equal percentages of the same opinions regarding the type of communication advertisers (Talbot, 2021). Each of the consumers belonging to a particular generation wants to get an individual and personalized connection with the brand. Moreover, almost all respondents prefer the same communication channel, except for generation Z (Talbot, 2021). However, such similarities are not limited to the selected elements. Indeed, similar trends in preferences and desires manifest themselves in a broader sense and continue to “gain momentum” to this day.
References
Chohan, S. (n.d.). Influencer marketing for gen z: 4 keys to success. Linkfluence. Web.
Lister, M. (2021). Generational marketing: How to target millennials, gen x, & boomers. WordStream. Web.
Marketing to children: Tips, tactics, and taboos. (n.d.). Concordia University St. Paul. Web.
Neese, B. (2020). Generational marketing myths from boomers to gen z. Ad Age. Web.
Talbot, P. (2021). How marketers can engage with different generations. Forbes. Web.
Templeman, M. (2016). 3 fundamentals of ethically marketing to kids. Entrepreneur Media. Web.
Wong, S. (2021). What is generational marketing? (examples included). 3 tier logic. Web.