PART THREE - TARGET MARKETS - DEMOGRAPHIC GROUPS - GENERATIONS

Generational cohorts give researchers a tool to analyze changes in views over time. They can provide a way to understand how different formative experiences (such as world events and technological, economic, and social shifts) interact with the life cycle and aging process to shape people's views of the world. (PewResearch.org)

To understand how to market to the different generations, it begins with understanding them from a demographic, psychographic and behavioural aspect.

1. Select two of the following and provide a brief profile of each. You may use bullet points. Once you have a good profile and understanding, provide 2-3 sentences/points on how you would market to them based on their preferences/profile. (20 marks)

• Baby Boomers
• Millennials
• Generation X
• Generation Z

1. What is the latest, most recent generation that we will begin to study? Provide a brief profile of this new target market. (5 marks)