Wednesday, June 04, 2008
Old Media/New Media — Demographics Still Matter
byWhile the tools of the marketing trade are changing rapidly, being able to understand the points of view of large major markets is still eminently useful to business professionals. A new book by Kenneth Gronbach titled, The Age Curve: How to Profit from the Demographic Storm, points out major generational markets (as well as other demographic groups), and offers advice on how best to reach each group.
Part of the premise of Gronbach’s book is that while effective marketing is always a question of how, the size of the potential audience is also a major factor. In a recent Advertising Age article he provides a synopsis of these major generational markets:
• The G.I. Generation (Born 1905 to 1924)
• The Silent Generation (Born 1925 to 1944)
• The Baby Boomers (Born 1945 to 1964)
• Generation X (Born 1965 to 1984)
• Generation Y (Born 1985 to present)
Each group represents a different challenge and approach for marketers and further illustrates why mass marketing is becoming less effective and inefficient at delivering useful and relevant messages to markets with widely varying needs, opinions, priorities and life orientations.
