Generation Cohorts

The concept of Generational Cohorts plays a major role in consumer preferences. These preferences are similar because consumers within certain generations share certain experiences that connect them by creating a common interest in certain products. The text examines the differences between Seniors, Baby Boomers, Generation Xers, and Generation Yers. Seniors are known to have the money, and take pride in their Americanism. They like to purchase items that were made in the United States, are made with natural fibers, and branded with recognizable names. Baby Boomers value their sense of self and leisurely spending their free time doing whatever they choose. They are also quite independent and seek financial security. Generation Xers require a convenience that their parents (Baby Boomers) may not expect. They become established much later in life than their parents did, so they have a great spending power. Lastly, the Generation Yers seek to balance their work and social lives while residing in locations that are parallel to their lifestyles.

The text uses an example of Internet usage to describe the differences among Generational Cohorts. It was stated that consumers of all ages use the Internet, however based on the age variations, usage will be different. Those who are considered “seniors” take pride in purchasing quality products and are researching ways to spend less and save more. They take time to research value rather than focusing on the economical ways of making certain purchases. On the other hand, most Generation Yers don’t know how to operate without technology and the Internet. They use it for everything from shopping to going to school, to watching television, to holding conversations.

Marketers must take all of these generations into considerations when developing products because the approach by each individual group will be slightly different. Let’s look at the purchase of a car. Seniors and Baby Boomers will more than likely be...