Baby boomers in America are aging. Describe how this might affect the marketing
ID: 354005 • Letter: B
Question
Baby boomers in America are aging. Describe how this might affect the marketing mix (the 4 Ps) for the following: ** some articles to get you thinking https://www.thebalance.com/small-business-ideas-for-the-baby-boomer-market-2947936 https://www.wordstream.com/blog/ws/2016/09/28/generational-marketing-tactics https://www.quicksprout.com/2017/04/26/forget-millennials-7-reasons-why-baby-boomers-are-the-ideal-target-market/ article starts below his advertising the may pop up for QuickSprout • Health Clubs (Planet Fitness, LA Fitness, etc…) Product Price Place Promotion • McDonald’s Product Price Place Promotion • Whirlpool Corporation (makes appliances) Product Price Place Promotion
Explanation / Answer
McDonald's marketing mix
The customers of McDonald's usually belong to generation Z ,millennials and generation x. The product of McDonald's includes hamburger, french fries etc that does not appear to baby boomers.
Hence the promotion strategy usually include using social media. As their presence is high in social media platforms. Discount and coupons can be provided when ordered using mobile app. As majority of their customers use mobile apps for ordering food. McDonald's joint I usually located in mall where crowd usually spend time to socialize.
Health clubs marketing mix
Around 10% of total customers belong to baby boomers and the rest belong to generation Z ,millennials and generation x. The product would include yoga, gym, pilates, aerobics, dance, zumba, tai Chi ,etcHence the promotion strategy would include social media as well as television and print media to attract customers from baby boomers who wants to keep their health in good shape and as also most of the population of baby boomers have retired they are left with lot of time to focus on maintaining good health. The promotion strategy can include discounts during monsoon season as customer footfalls are low with the package for early membership. Health clubs can be located near park or near office area and residential area so that it is convenient for people from all age groups to visit health club.
Whirlpool Corporation marketing mix:
Appliances for household course and activities are required by customer once they are married and move to a new house start a family. Its product include washing machine, fridge, air condition etc. Majority Of the customers would belong to millennial. To attract this population the promotion strategy can include 40% of television advertisements print media along with 6 uKG children0% using social media to spread awareness about the appliances of Whirlpool. Baby boomers would also require to repurchase these appliances at the as the appliances that they had previously purchased might have depreciated and the performance would have lowered. Hence advertising through television is also important to target baby boomers
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