According to a recent national study monitoring the attitudes of Baby Boomers, marketers may be making fatal flaws in their assumptions about this large and important market segment.
The market research study, conducted by Applied Research & Consulting (www.arcllc.com) in conjunction with the advertising agency Under The Radar (www.undertheradarltd.com), identifies 6 costly misconceptions marketers have about baby boomers.
The study also sheds new light on the generation’s current beliefs, expectations, priorities, and spending habits.
According to Andy Tuck, a principal at Applied Research, “There is a lot of conventional wisdom about Baby Boomers that doesn’t hold up under close scrutiny. This is a very diverse demographic group that resists easy stereotyping. If there is anything we found that makes them distinct from other younger generations, it is in the nature of their expectations.”
Denis Glennon, a partner at Under The Radar observed, “Given the recent socio-economic turmoil, it is naive to still think of the baby boomer segment as a holdover from the 1960s. Nothing could be further from the truth as this generation, characterized by its sense of self-determination, has once again learned to adapt, improvise, and thrive during these challenging times.”