Question

Compare Baby Boomers and Generation Xers in terms of attitudes toward purchasing, products, brands, advertising and price-quality attitudes.

10 marks consumer behaviour question please give examples and relate

Answer 1

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Through generation, from Baby Boomers to Generation X, has their own distinguishing political and cultural characteristics that have influenced their shopping and coming-of-age routines. There are actually four big generational cohorts that analysts have identified as distinct markets: Baby Boomers, Gen X, Gen Y (more popularly defined as Millennials), and Gen Z — each of which is distinctive in its communication strategies and consumer habits viewpoint. When marketers wish to make their goods accessible to each demographic in the best possible way, they need to adjust their brand image to fit all the choices on which certain audiences depend. From subtle distinctions to apparent variations, each generation has its own buying habits which distinguish them from each other. From targeted messaging to selecting your products and facilities, understanding and addressing the desires of your consumer base's generation(s) is critical. In this post, we take a look at how the demographic patterns of customers affect how they shop, their reasons to shop, and their willingness to exchange.

Gen X:

Yet even because they're digitally-savvy, that doesn't imply selling this group the same as millennials. Gen X enjoys truthful, straightforward advertising and marketing ads providing an simple route to purchase. Gen X is more inclined to do internet research at home and then buy in person, whilst their younger peers perform phone research in the supermarket. The fastest way to make it to Gen X? Please contact. So although others are on social media, the email marketing strategies are far more effective for them. Customer satisfaction is the most significant indicator of engagement when trying at client loyalty. Gen X does not worry too much about being associated with online products, but they are motivated by discouunts.  The myth that Gen Xers were not technologically competent were essential to quell. Nevertheless, a poll of over 1,000 customers in three groups (Millennials, Generation X, and Baby Boomers) showed that 60 percent of Gen Xers use a mobile on a regular basis, while 67 percent use a laptop / PC on a daily basis – which surpassed 58 percent of Millennials that use laptops / PCs everyday. In other words, Gen X can best be accessed through laptops and desktops.

Baby Boomers:

The Boomer group has the largest amount of discretionary income than every other age, but it is their spending habits that separates them differently from the younger generation. According to a Visa survey, there will be 11 million more customers over age 60 by 2020, while the share of consumption by younger consumers is projected to decrease over the next 10 years. Above everything, they trust in-person customer service; LoyaltyOne noticed that, after a subpar consumer encounter, the Boomer generation was more inclined to leave a purchase. Shopping has a particular function to them than other groups, fewer than a third of baby boomers consider soothing shopping. And perhaps the strongest group to compete at The Price is right; boomers ranked lowest in recognizing how much things cost – representing a community that is more price-conscious and fiscally responsible. Only 37 per cent of baby boomers claim they 're going to shop for new items, much of this group isn't involved in seeking out and exploring different goods, and is more going purchasing what they initially wanted to purchase. That faith in the transaction is reflected in how baby boomers use feedback and recommendations, just 12 percent of boomers depend on family and friends to support them make a buying choice. Boomers were the lowest of all groups to choose to shop in-store at 84 percent, and 67 percent notice that if something they are searching for is not available, they choose to purchase it from their local supermarket instead of buying it digitally. And while boomers enjoy the in-store experience, online shopping isn't new to them. Despite 85 percent of surveyed Boomers stating that they are testing goods on their online servers, while promoting and selling to boomers, companies need to adopt an omnichannel strategy. Younger people don't purchase like their parents or ancestors, thus shifting the buying needle to introduce a personalized market strategy for growing age.