Customer Profile Report and Research folder (100%)

You will need to undertake a brand’s position in your approach to this assignment.

° Choose, analyse and describe a generation: Baby Boomers, Generation X or generation Y

° Choose and present a brand that corresponds to your chosen generation and report why it corresponds and how the brand is using costumer personalisation today.

° Apply this to how your chosen brand communicates and market to your chosen generation and influence their purchasing behaviour.

Your report (indicative 1000-1500 words) will identify why personalisation of the customer relationship is important for brands using your research findings and analysis of the chosen generation and brand.

You will submit a detailed research folder in Padlet format with your primary/secondary research.

Your research folder should also contain a digital consumer board, image based with annotation, clearly reflective of your chosen generation. In your consumer board: Identify brands and other retailers that a typical consumer of your chosen generation would be more likely to engage with (in addition to your selected retailer) Include, clothing, electrical, household and other FMCG brands in this section.

Harvard referencing standard and a bibliography are required.

At all times, your work will implement appropriate modes to reflect a creative and professional standard to your work.

Baby boomers represent the section of the population that is between 56 and 74 years of age. They are the people who were born between 1946 and 1954. An estimated 78 million people were born during this period in the United States (Colby & Ortman, 2014). Baby boomers form a large portion of the population in the United States and other developed countries. The end of World War 2 signaled the start of a period of peace and prosperity in the United States and other areas of the world. This period saw soldiers who had fought in the war moving back home and better healthcare, which contributed to higher fertility rates. Sustained peace and increasing prosperity meant that people could settle down together and form stable family units. Therefore, the reign of peace that came after the end of World War 2 led to a significant baby boom in the United States and other developed countries. The return of soldiers from war who were ready to settle down and create new families contributed to a large increase in birth rates across the country. The higher fertility rates and improved healthcare also largely contributed to the baby boom that characterized this period in history (Rodgers, 2016). Therefore, it is important to study the demographic attributes and characteristics of baby boomers to know their impact on the economy.

 

The oldest of the baby boomers reached the age of 65 in the year 2011, and by 2030, all baby boomers will be over 65 years old (Colby & Ortman, 2014). Therefore, the ‘big bulge’ of the boomer generation will contribute to the cumulative aging of the US population in the next decade. The 2019 report shows that around 52 million people were over the age of 65 in 2018. This signified an increase in their share of the population, which grew from 12.4% in 2000 to 16% in 2018 (ACS, 2019). going by these statistics, the Census Bureau projects that for the first time in history, older adults will outnumber children under 18 years by 2034 (ACS, 2019). A large section of the baby boomer generation will either be retired or entering retirement. All the respondents included in the survey were found to be within this age bracket, with the youngest born in 1963 and the oldest in 1946 (Appendix 1). This section of the population will cause a major shift in demographics, business, and economy.

(Source: Rodgers, 2016)

Statistics also show that females outnumber their male counterparts in this generation by a significant number. In almost all the population pyramids, the higher number of female baby boomers remains consistent (Rodgers, 2016). The distribution of baby boomers around different areas in the US also varies. Statistics from the 2009 report show that the 28 million boomers were living in the South, 17.5 million in the Midwest, 17 million in the West, and 14 million in the Northeast US (ACS, 2009). It also shows that the state of California had the highest number with 8.9 million, and the county of Vermont led in percentage with 30.1%. The survey found that 100 percent of all boomers were married, with 40% remaining married, 20% widowed, and 40% divorced (Appendix 2). This is a sharp contrast to 2006 statistics that show 65.6% of boomers were married, with only 17% being divorced and 2.7% widowed (ACS, 2009). Another defining characteristic from the census reports is that boomers are well educated, with about 30% graduating college and 60% attaining college or university education.

In the survey conducted, 80% of the baby boomers responded that Mark & Spenser was their favorite retailer shop (Appendix 3). This is in line with statistics from the global retailer that shows that the average age of their usual customers is 55 years and above (Elder, 2012). Population demographics play a significant role when reviewing marketing strategies for retailers like M&S. The statistics presented above from the US Census Bureau show that a significant segment of the US population is over 55 years old. Therefore, this statistic means that baby boomers for the largest customer segment for M&S. (Tama-Rutigliano, 2017) states that baby boomers form the largest sector of consumers. Moreover, she observes that boomers are an affluent generation and thus possess the biggest purchasing power of all the generations. The increasing number of people turning 65 years and older in the US provides a growing market for M&S products designed for older adults. Therefore, understanding the demographic attributes of baby boomers, such as their number, gender, age, and geographical distribution, is important for retail brands like M&S.

 

In terms of preference for technical gadgets, baby boomers prefer the use of both smartphones and tablets for mobile communication. In the survey conducted, 60% of respondents reported owning a smartphone (Appendix 4). Statistics show that 4 in every 10 baby boomers own a smartphone, while 57% of boomers use tablets (Herosmyth, 2018). Data from (Herosmyth, 2018) also shows that 49% of baby boomers own laptops while 65% own desktop computers. The use of these gadgets by boomers is primarily for communication and research. Fewer baby boomers are likely to use their gadgets for online shopping as compared to millennials. When it comes to shopping, people in this generation most often only use their smart devices to research product details. 60% of the survey’s respondents reported that they prefer in-store shopping to other methods, including catalog, online, or TV shopping (Appendix 5). While a few boomers may consider catalog or online shopping in web stores, few if any use Apps for shopping purposes. This information gives marketers a foundation for structuring any adverts targeting baby boomers.

■https://www.ft.com/content/38e5f2f0-9b34-11e1-8b36-00144feabdc0

■Herosmyth. (2018, July 17). 75 Eye-Opening Statistics on How Each Generation Uses 

■Technology, Herosmyth. https://www.herosmyth.com/article/75-eye-opening-statistics-how-each-generation-uses-technology

■ Shvarts, A. (2019, April 15). The Misconception of Baby Boomers and the Age of Technology, 

■Forbes. https://www.forbes.com/sites/forbestechcouncil/2019/04/15/the-misconception-of-baby-boomers-and-the-age-of-technology/#7a4336291b7e

■Cox, T. (2019, July 2). How Different Generations Use Social Media, The Manifest. 

■https://themanifest.com/social-media/how-different-generations-use-social-media

■ACS. (2019, December 10). BY 2030, All Baby Boomers will be Age 65 or Older, US Census 

■Bureau. https://www.census.gov/library/stories/2019/12/by-2030-all-baby-boomers-will-be-age-65-or-older.html

■Rodgers, L. T. (2016, June 23). Americas Age Profile Told Through Population Pyramids, US 

■Census Bureau. https://www.census.gov/newsroom/blogs/random-samplings/2016/06/americas-age-profile-told-through-population-pyramids.html

■Colby, S. L., and Ortman, J. M. (2014, May 3). The Baby Boom Cohort in the United States: 2012 

■to 2060, US Census Bureau. https://www.census.gov/content/dam/Census/library/publications/2014/demo/p25-1141.pdf

■ACS, (2009, November 4). Selected Characteristics of Baby Boomers 42 to 60 Years Old in 

■2006, US Census Bureau. https://www.census.gov/content/dam/Census/library/working-papers/2006/demo/2006babyboomers.pdf

■Tama-Rutigliano, K. (2017, September 26). Five Things You Need to Know About Marketing to 

■Baby Boomers, Forbes. https://www.forbes.com/sites/forbescommunicationscouncil/2017/09/26/five-things-you-need-to-know-about-marketing-to-baby-boomers/#b5d6ce14e55

■M&S website https://www.marksandspencer.com/l/home-and-furniture/our-top-rated-products?scroll=1

■2014 Fiona Briggs  https://www.retailtimes.co.uk/marks-spencer-named-best-retail-brand-representing-baby-boomers-poll-shows/

■2014 Tugba M&S About  https://www.statista.com/topics/3707/marks-and-spencer/