Page 145 - Foundations of Marketing

112 Part 2 | Marketing Research and Target Markets

provided in Table 4.3 as possible resources for the The information obtained from these questions
secondary data. should assist you in developing various aspects
3. Using Table 4.4 , choose the appropriate survey of your marketing plan. Develop your marketing
method(s) you would use to collect primary data for plan online using the Interactive Marketing Plan at
one of your information needs. What sampling method www.cengagebrain.com .
would you use?

Marketing Research Reveals Marketing Opportunities
in the Baby Boomer Generation

For many years, marketers have focused upon consumers This research has been shared with many businesses, who
between the ages of 18 and 34 to promote products. Marketers have interpreted the findings to create a retail environment
feel that wooing consumers early in life will ensure that they better suited to this demographic. CVS, for instance, has low-
become lifetime loyal customers. While this seems logical, ered its shelves, made its store lighting softer, and installed
research is revealing that Baby Boomers might be a more magnifying glasses for hard-to-read labels. Other businesses
profitable demographic. Statistics show that while spending are using this information to redesign their products. Diamond
for Millennials is actually shrinking, Baby Boomer spend- Foods Inc., for example, has designed the packaging of its
ing has been increasing. Baby Boomers are estimated to have Emerald snack nuts to be easier to open, a great help for older
$ 3.4 trillion in annual buying power. consumers whose hands become less mobile as they age. The
The Baby Boomer generation is vastly different from company also studied consumers with arthritis and decreased
the generations preceding it. Baby Boomers desire to have a the time it takes to rotate the caps to open its products.
variety of products available to them. Many of the products Additionally, Baby Boomers have created an opportu-
traditionally thought to belong to the younger generation are nity for businesses to market entirely new products. Baby
actually bought the most by older generations, such as cars Boomers tend to embrace fitness and exercise regimens as
and technological products. With approximately 20 percent a way to stay fit and prolong their lives. Technology firms
of the U.S. population estimated to be 65 years or older by are seeing an opportunity to develop products to be installed
2030, marketers are beginning to research better ways for in the homes of older consumers. These products monitor
marketing to Baby Boomers. the movements of the inhabitants and alert family or experts
In one study researchers attempted to understand how if there are any changes in the inhabitants’ movements. A
older consumers shop and interact in stores. Because store decrease in mobility could signal a change in the person’s
marketers often target younger generations of consumers, physical and mental state, which may require medical atten-
little thought has been given to how accessible these stores tion. Although these devices might otherwise seem intru-
are for older generations. The research design involved sive, Baby Boomers’ desires to stay healthy and prolong
equipping a person with gloves, neck braces, helmets, blurry life are increasing their demand. Many Baby Boomers are
goggles, and other equipment to simulate how a person in his also concerned with preserving their more youthful appear-
or her 70 s with arthritis is feeling. Researchers would then ance. Lingerie maker Maidenform has created shapewear, or
observe how the person takes items off of shelves, gets into clothes that help to “tone” the body, targeted toward those
his or her car, and gets up from chairs. ages 35 to 54 .

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