Posts Tagged ‘Generation’

Selling Innovation to Aging Boomers – Is it a good idea or not?

April 15, 2010 8:49 am by Diane Crispell

By Diane Crispell

Have you ever had the experience that you were thinking about some great new product that would make your life better, and then it suddenly appeared on store shelves? It’s happened to me a number of times. My reaction has typically been one of delight that someone figured it out, tempered by the (totally unrealistic) regret that I wasn’t the one to do it and ‘make millions’.

As a Baby Boomer, I’ve always enjoyed the benefits of being part of the mass market that all businesses wanted to reach. So it’s not really surprising that my wants and needs have been anticipated through different life stages, from teen skin-care products to family-size frozen-food entrées. But we Boomers are getting older, and older has never been a very popular market, so I wonder whether I will see as many new products directed at my generation in the future. Maybe not.

The fact is that Boomers are not as entranced by novelty as they used to be or as much as younger people are. For example, 33% of Boomers strongly agree they “actively seek new ways to do things in everyday life,” compared with 44% of Gen Yers, according to a recent GfK Roper Reports® US survey. Similar patterns hold for everything from technology to food.

Does this mean that marketers should focus their energies on selling innovative and status-related products to younger generations and hope that they “trickle up” to Boomers? Maybe, but not necessarily.
 
Boomers are still a huge market, they are still receptive to innovation that’s relevant to their lives, and it is still worthwhile for marketers to meet their needs. Innovation that addresses the issues Boomers face as they enter new life stages such as empty nesting, grandparenting, and retirement (whatever that looks like for this generation) will be particularly opportune.
 
There are some areas that virtually beg for innovation on Boomers’ behalf – this is a very health-oriented generation, for example, and if there is one thing that is inevitable about Boomer’s aging, it’s the physical changes their bodies are experiencing.
 
Speaking of physical changes, the latest ‘product’ to delight me with its timeliness is my local phone book. The newest edition was much fatter than usual, so at first I assumed it included listings for additional neighboring towns. But no, the reason is that the type size is larger than it used to be, and my Boomer eyes are really appreciating that about now.

The New Globalists

March 1, 2010 4:48 pm by Jon Berry

Leapfrogging the recession by going abroad

By Jon Berry

One friend’s child, a 2008 college graduate from California, is in his second year teaching English in Madrid, Spain’s, public-school system. Another friend’s child, a new grad from upstate New York, is coaching lacrosse at a private school in northern England. Two others chucked their entry-level jobs to travel, respectively, to Kenya and China. Another latched onto a puppetry workshop in Italy. Another went to Greece to build up her photography portfolio.

I’m not sure at what point one can declare a trend. But going abroad is becoming to this recession what graduate Google Screenshotschool was to past downturns – a strategy for leapfrogging the economic cycle with an experience that will make you more valuable for the long term. It’s not just young people. A parent at the school where my wife works is transferring to the Singapore office of an investment bank. But the young are a driving force. A major motivation for the parent was to give his kids the experience of living in Asia; it will good for their economic futures, he says.

Welcome to the next era of globalization. Global growth, as measured in economic data, may have slowed. But the idea of globalization is streaming forward. And it’s become more personal and generational. It’s as if a 21st-Century Horace Greeley has said, “Go West, young people. And East. And North. And South.”

Forget “Gen Y.” The true handle on this generation is globalization. Call them the New Globalists. Or New Frontierists. Or the Marco Polos. Or the Gaias (for their combination of globalism and environmentalism).

Three Cups of Tea

Reared on books, movies, and international campaigns expressing a passion for the world and the possibility that progress can come from connection – Three Cups of Tea, The Lexus and the Olive Tree, Doctors without Borders, Partners in Health – at a time when falling trade barriers and a growing Internet are bringing the world closer together, New Globalists live in a fundamentally different world than their parents. They likely will teach their elders the tools of globalization the way previous generations taught their parents how to use the remote control.

I think the threat that people my age see in globalization – that way we robotically append “competition” to the word “global” – says more about our fears than reality. We react the way our parents reacted to the social and technological changes of their time.

Did you see Google’s Super Bowl ad that tells the charming story of a cross-Atlantic romance through a series of Google searches? (I’ve linked to it below.) It’s a great ad, and it’s great because it’s true. Many people have a version of the Google-changed-my-life story. Mine is about my daughter. As she was approaching graduation from college, her advisors told her she should find a writers colony. They suggested several in the U.S. But my daughter, thinking an expat-in-France experience would be more to her liking than Provincetown in winter, Google-searched writers colonies in France. She emailed applications, and voila, a few months later was at an artists colony in France, the only American among sculptors, painters, videographers, and writers from Africa, Europe, Latin America, and Asia (and at a very low price).

When we hear stories of a college student going to Scandinavia, striking up a relationship with a young business-school student whose concentration is business in China (a program started because so many Scandinavian companies have operations in China), then continuing that long-distance relationship (another true story), we tend to marvel, like with the Google ad. “Wow, isn’t that amazing.”
Be ready for more such stories. The New Globalists travel great distances, strike up relationships, and come back with new ideas and amazing stories with the ease that my Indiana farmer grandparents took Sunday drives to Cincinnati. I believe it cuts across class lines more than people suspect: a job on the factory floor in Indiana can lead to a promotion to a job in China (another person I know).

We’ve begun to see the shift in our research; for example, a recent GfK Roper Reports U.S. survey found that the #1 thing Gen Y (aka the New Globalists) would like to do at this stage of their life is “visit other parts of the world”; 84% agree. But this story is just beginning. Businesses should think about fashions, foods, objects, books, programs, and ideas you can introduce from other parts of the world – and about how you can facilitate this new generation’s adventuring.

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Talkin’ ‘bout my generation

February 22, 2010 1:39 pm by DavidCrosbie

David Crosbie (29) never identified himself with a ‘generation’, until now. What could have brought about this revelation?

By David Crosbie

Generational marketing has a long history in the US, but is not so prevalent in the UK, or indeed many other markets around the world. Instead, over here people tend to talk about age bands and socio-economic groups, with phrases such as “25-34 year old ABC1s” being bandied around by media sellers and marketers.

One reason for this is that Britain is still a class-obsessed society. As a Russian colleague once said to me when discussing social classifications, “in Russia we do not have anything like your Cockneys.” Another might be that, on the whole, Brits tend not to think about themselves as part of a cohort group born around the same time. I myself might occasionally muse that I am a ‘child of the Eighties’, or one of ‘Thatcher’s children’, but even that is only to excuse my penchant for the Human League and Eurythmics.

All that changed the other week, however, when I picked up a Sunday supplement (The Observer Magazine, 31 January 2010) and was confronted by a contemporary of mine claiming that he (and by inference me) was part of ‘The Lost Generation’. He argued that it is today’s twentysomethings who are paying the price for the excesses of the baby boom generation, with its free higher education, affordable housing and abundance of cheap credit. We, by contrast, have to contend with thousands of pounds of student debt, saving for deposits on extortionately priced housing and the mess that ensued when the credit bubble burst.

I have to say this is a view that resonated with me. At a time in my life when I should be thinking about going forth and multiplying, I’m worrying about student loan repayments, how to get on the housing ladder and how best to care for elderly relatives. These are of course all concerns that are shared with many consumers around the globe. But is it just a case of sour grapes on the part of a generation that is in fact not that badly off but likes a good moan?

Well interestingly, it’s not just people in their late twenties who are coming to recognise this issue. A leading light in the UK Conservative Party, which is widely tipped to win the country’s imminent elections, has just written a book entitled The Pinch, which explains how, “the baby boomers took their children’s future.” As well as being a baby boomer himself, the author, David Willetts, is viewed as being such a great thinker that he has earned the soubriquet, “Two Brains”.

At GfK Roper Consulting, we examine closely how evolving consumer concerns and needs manifest themselves in changing attitudes and behaviours, and generational and cohort breakdowns by market are key filters for our analyses. A major client study on global baby boomers we carried out last year shed new light on how this generation will differ from today’s over 65s as they enter retirement. I for one will be examining this year’s data carefully to see how my contemporaries around the world are feeling about the challenges we face. If only my question on attitudes to Eighties synth pop had made the final questionnaire…

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