OLDER people
Author-Supplied Keywords:
Baby boomer generation
Demographics
Elderly people
Abstract:
Purpose -- The purpose of this paper is to remind loyalty marketers to harness the power of the often-forgotten generation that truly values brand loyalty -- the Baby boomers. Design/methodology/approach -- The approach take the form of exploring Boomers' demographics and influence on the marketing community and outlining some of the best practices to which marketers can look when building programs and offers for Boomers. Findings -- By 2010, one-third of the US population will be over 50; by 2020, one in five Americans will be over 65. In the near future, the oldest segment of the US economy will control the largest share of the US economy and marketers will be wise to make 50 + consumers visible in their marketing strategies. Boomers will find the brands that resonate with them and continue to fuel revenue and growth for years to come. Practical implications -- If one has established a relationship with Boomer customers and one has maintained the integrity of those relationships, they will stay with one for years to come. The biggest mistake one can make is to change one's offers and messaging to them just because they hit retirement age. Originality/value -- The paper presents exclusive interviews with representatives from some of the largest marketing firms in the industry today. Tangible tips and tools to utilize in the real world marketing plans are offered. [ABSTRACT FROM AUTHOR] Copyright of Journal of Consumer Marketing is the property of Emerald Group Publishing Limited and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the