Chadwick Martin Bailey Releases Baby Boomer Research.
BOSTON -- The Boston-based market research firm of Chadwick Martin Bailey (CMB), in conjunction with Arnold Worldwide, today released the results of a study that will redefine how marketers categorize the Baby Boomer generation. Although marketers and advertisers lust over Boomers' high purchasing power, they generally miss the mark when it comes to segmenting the group and maximizing targeted results. The CMB research shows that treating the Boomer generation as only one or two groups is a mistake; it over-simplifies their robust differences.
"For years, companies have been marketing their products to the Baby Boomer generation as if it were a homogeneous group," said Mark Doherty, Vice President of Chadwick Martin Bailey. "Our latest research shows that marketers can identify more substantive, actionable and strategic differences by segmenting the generation into five distinct subgroups based on common attitudes, behaviors, and demographics. Using the new segments we've identified, we believe there's a more effective way to target America's most-publicized generation."
In addition to the segments identified below, the CMB study exposed these common misperceptions of the Baby Boomer generation:
* More than 70% of Boomers were never actually politically active in the 60's and 70's. For example, only 6% claim to have been active participants in historic movements such as civil rights, anti-war and women's rights; and only 15% claim to have participated in demonstrations or protests.
* While only one in five Boomers consider themselves a 'knowledgeable source of information for new technologies,' certain portions of Boomer population are much more tech-adept than previously believed. Achievers, for example, own significantly more technology devices than their counterparts, and they consistently rely on technology.
In order to help marketers more accurately engage the diverse Boomer market, CMB and Arnold Worldwide have identified the following five distinct subgroups:
* Status Seekers: The largest segment identified, Status Seekers make up 26% of Boomers. The group is characterized as materialistic and feels that money is the best measure of success. They enjoy the finer things in life and are willing to pay more for brand names. 31% of Status Seekers drive a vehicle they feel makes a statement about their personality and style.
* Traditionalists: This group accounts for 23% of Boomers. Traditionalists are defined by their conservative political, economic and social views. They have traditional attitudes and belief systems, are known for following the rules, and are smart consumers (interested in value, trust and variety). 45% of Traditionalists report that they'll go out of the way to buy American-made products.
* Blue Collar Skeptics: 18% of Boomers fall into this group. The Blue Collar Skeptics are just that - skeptics. They are hesitant to trust big businesses and are concerned about the amount of information online. As they fall on the low end of the Boomer income bracket, this group is more stressed about time and money than the rest of their generation. 68% of Blue Collar Skeptics fear they haven't saved enough money for retirement.
* Activists: The most politically and socially active segment, 17% of Boomers are Activists. They are generally liberal and also donate a significant amount of time and money to charity. Activists are concerned about the environment, are brand-loyal, and are financially smart. 37% of Activists describe themselves as 'green consumers' (i.e. buying hybrid cars, recycling, etc).
* Achievers: The minority of Boomers, just 16% fall into the Achiever category. This group adopts technology early and relies on it heavily. They are focused on success and wealth and are heavily involved in social activities. 24% of Achievers claim to be the first among their friends to have new gadgets and devices.
For the purposes of this study, CMB surveyed 1000 Baby Boomers born between 1946 and 1964. For additional information regarding the Baby Boomer study, or to request additional statistics on each of the segments, please email Josh Mendelsohn at firstname.lastname@example.org.
About Chadwick Martin Bailey
Founded in 1984 by John Martin and Anne Bailey Berman, Chadwick Martin Bailey is a Boston-based, high-end marketing research, analytics, and consulting firm that works with some of the world's largest companies in more than 30 countries. Whether it is marketing ROI, brand, product development, or customer loyalty, all of Chadwick Martin Bailey's approaches have a singular focus: to bring clarity to what clients can do to get, keep, and grow customers. For more information please visit www.ChadwickMartinBailey.com.
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|Date:||Nov 7, 2006|
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