An Analysis of the Baby Boomers, Silent Generation, and LGBT Community

An Analysis of the Baby Boomers, Silent Generation, and LGBT Community

Introduction

XYZ Company has developed a new product and wants to market it in several different ways.  They have branches in several different states, and they are looking for ways to market their product in the most efficient way possible. The company manufactures home appliances such as microwaves, refrigerators, and other kitchen appliances. Recently, they introduced a new appliance that uses steam instead of a microwave for most food preparation. They named the product “Steam-A-Chef.” They need to market this product to the Baby Boomers, Silent Generation, and LGBT community (Couture, 2010). They need a consultant to provide deep background on these three groups. The consultant needs to answer several questions about each group: how many people are in this demographic, what is their income range, and what factors influence the demographics’ purchasing decisions? The paper will cover these three questions and provide recommendations on how to market the product. Need help with your assignment ? Reach out to us. We offer excellent services.

Demographical Information

The Baby Boomer generation was born between 1946 and 1964. They are the largest population group in America, making up 36% of America’s total population (Jenkins et al., 2018). It is roughly 77 million people. Strong family ties are very important to this demographic; they value stability more than anything else in their lives. The greatest number of baby boomers was between 52 and 70 in 2015 (Nakagawa & Yellowlees, 2020). This group has lower divorce rates than previous generations, but many are experiencing second marriages during this period. The Boomer generation still has a significant disposable income, but they also save for retirement. They enjoy luxury items such as cars and vacations where they can enjoy the finer things in life.

The silent generation was born between 1925 and 1945. Unlike Baby Boomers, they value tradition over change; stability is more important to them than anything else in their lives. Some of these groups have been affected by the recession because many have lost significant amounts of their retirement savings. This group is the least likely to go back to school for more education, and they are generally less optimistic than Baby Boomers or Gen Xers (Couture, 2010). Many in this group are on fixed incomes, and they tend to live more frugally than the previous two generations. Besides their shrinking numbers, this group is not significant to the marketer.

The LGBT community makes up roughly five percent of the U.S. population, or about nine million people. The group is not monolithic; it includes gay men and lesbians who have different views on their rights as citizens than bisexuals do. They want equality under the law with heterosexual couples when it comes to marriage rights. Some are also uncomfortable with the “equal” label because it implies that they see themselves as being just like heterosexuals, which is not always a goal of members of this group (Jenkins et al., 2018). It was born in the wake of World War II. It is an incredibly well-educated group; about half have college degrees, significantly more than any other generation.

The Attitude of Each Group

The attitude of Baby Boomers is largely shaped by the fact that they are now in their senior years. Since they were children, they have seen a dramatic change in society, and this group has high expectations for what it means to be an American citizen. Many of these individuals live longer than previous generations; one-third of all adults are over the age of 50. This generation is very different in their attitudes towards marriage; they are more likely to divorce than previous generations, and many people will marry multiple times during their lives. The subgroups within Baby Boomers are primarily determined by when they were born (Jenkins et al., 2018). There is also a subset known as “Boomerang” kids, which includes people between 15 and 34 who still live with their parents. Conflicts or differences within this group include the fact that not all Baby Boomers are close to their parents, and some have no relationship at all.

The attitude towards the LGBT community is largely shaped by how many members of this group are included in popular culture and media representation (Ting et al., 2017). These individuals tend to be more politically active than other generations; this is likely because they grew up in the shadow of the Vietnam War, which was unpopular with many young people. The subgroups within these individuals are primarily determined by sexual orientation- gay men and lesbians may have different attitudes about what it means to be gay than bisexuals do.

According to Fredriksen-Goldsen et al. (2017), the attitude of the Silent Generation is largely shaped by their age. They are now in their senior years, and many people feel like they have seen enough during their lifetime that it’s not worth getting into arguments with other people. This group has high expectations for what it means to be an American citizen. They are more likely to be self-sufficient and not expect any help from the government. The subgroups within this group include people born around World War II versus those born during or after it. Conflicts within this group include those who grew up during the Great Depression versus those who came of age after it ended.

The Disposable Income

The annual disposable income of the Baby Boomers is $35,700. The annual disposable income of Silent Generation individuals is estimated to be between $42,100 and $59,300 per year in 2017 (Couture, 2010). LGBT community members have an average yearly spending power ranging from about $11,000 to over $41,500. Each group’s spending power is primarily influenced by their levels of education, occupation, and income. For example, the Silent Generation is the least educated of all groups, and Baby Boomers are the best educated. LGBT community members have high levels of education because they grew up when it was more accepted to attend college than before or since; many were also able to avoid serving during the Vietnam War due to this change (Jenkins et al., 2018). The Silent Generation is best-educated because they lived in an era when college was essentially free for much of their lives. At the same time, Baby Boomers are better educated than the LGBT community members because they attended school before tuition became so expensive.

Product Development

The Steam-A-Chef is a product that would appeal to Silent Generation individuals because it is an appliance with many functions that this generation can use in the kitchen. The Steam-A-Chef could be marketed as helping cook large meals or make homemade foods instead of buying them pre-made at stores. This group might also appreciate its ability to steam vegetables and other healthy foods, and it can help clean up after a large meal. The Steam-A-Chef would not be appealing to Baby Boomers because they still want control over what goes into their food; this generation likes to make things from scratch. This group might also find the appliance’s design unattractive. The Steam-A-Chef would not be appealing to LGBT community members because they have a high level of education and more disposable income than other groups, so this group tends to buy pre-made foods from stores instead of cooking their meals.

Marketing

The best media to reach the Silent Generation would be television and radio commercials with a longer run time than most current ads, about 25 seconds. It is important not to mention any specific features of this product in these ads; it’s better if the audience has questions they want to be answered about its functions to seek out more information on their own (U.S Census). This group is best reached through a longer ad because Silent Generation individuals don’t watch much television but listen to the radio (U.S Census). The message should focus on how this product can help save time for busy seniors. It should emphasize that other similar products from competitors are more expensive, but this is not because it is a value product. For Baby Boomers, the best media to reach this generation would be social media and digital ads on websites they frequently visit (U.S Census). This group spends more time online than other groups do; their attention span might also be shorter online for some members of this age range, so shorter ads are recommended (U.S Census). The message should be about how the product can help save time for busy parents or grandparents, and it needs to highlight that this appliance has many functions while others only have a few (U.S Census). Billboards would be an effective media option for LGBT community members because they frequently travel in their cars; other forms of media may not be as effective (Gallup). The message should project an image of stylish individuals who are into healthy eating, and it needs to explain how this product can help them prepare meals easily, which will save time for their busy lives.

The Success or Failure of a Product

A product like a smartphone has been marketed successfully with all three demographics, and it is still successful today. The smartphone has many features that appeal to multiple generations; for example, the Silent Generation likes its ability to make calls, while Baby Boomers like checking email or reading news on their phone screen. However, watches can fail in the market because they are not as versatile, so this demographic would need to use multiple devices to check emails and news on the go. People may opt to use a smartphone or a tablet to handle these tasks instead.

Conclusion

This paper focuses on three demographics with very different wants and needs for a product, so understanding them is important for manufacturers. The best way to go about marketing to these groups will depend on their age range and how much disposable income they have available. The Baby Boomers group wants a practical and functional product, for example, something like an app-controlled oven, to help them make delicious meals on their own instead of buying pre-made food items from stores. The Silent Generation wants something that will help them save time, such as an oven with pre-set cooking times to select the food item, and it cooks without needing additional attention from the user. LBGT community members want something stylish or have a unique design, like an oven with interchangeable accessories.

References

Bohannan-Calloway, J. M. (2016). LGBT Baby Boomers’ Resiliency Dynamics: A qualitative study (Doctoral dissertation, Capella University).

Couture, L. (2010). Arthritis Foundation Award/AliMed’s Critical Communicators/Morrison Senior Living “Silent Generation” Research/Planning Tips for LGBT Individuals and Couples.

Fredriksen-Goldsen, K. I., & Hoy-Ellis, C. P. (2017). LGBT Older Adults Emerging from the Shadows: Health Disparities, Risk & Resilience. In Later-Life Social Support and Service Provision in Diverse and Vulnerable Populations (pp. 95-117). Routledge.

Jenkins Morales, M., King, M. D., Hiler, H., Coopwood, M. S., & Wayland, S. (2018). The greater St. Louis LGBT health and human services needs assessment: An examination of the silent and baby boom generations. Journal of Homosexuality, 61(1), 103-128.

Johnston, T. R. (2017). Two steps forward, one step back: The story of LGBT Gen Xers. Generations, 41(3), 93-98.

Nakagawa, K., & Yellowlees, P. (2020). Inter-generational effects of technology: why millennial physicians may be less at risk for burnout than baby boomers. Current Psychiatry Reports, 22(9), 1-7.

Ting, H., Lim, T. Y., de Run, E. C., Koh, H., & Sahdan, M. (2018). Are we Baby Boomers, Gen X, and Gen Y? A qualitative inquiry into generation cohorts in Malaysia? Kasetsart Journal of Social Sciences, 39(1), 109-115.

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For this paper, you will take on the role of an outside consultant for a company. The company has hired your firm to provide a deep background on demographics. These groups are Baby Boomers, the Silent Generation, and the LGBT community.
Using the following outline will be helpful, but your final paper will be written in a cohesive essay format. Make sure that it is presented in the persona of an outside consultant. Even though this is written as a professional paper, you are still required to cite at least three scholarly sources for this assignment. Your paper must be formatted using double-spaced, 1-inch margins and font consistent with APA guidelines. Be sure to use the most current edition of APA format for your paper, citations in the text, and a reference list.

Suggested Outline
Single-paragraph Introduction describing the company, the product, and the intent of your research.
Outline the Demographics of the groups in question, including birth years and demographical information.
Provide background about the Attitude of each group. Focus on the shared experiences that distinguish them from other groups. Make sure to discuss subgroups and value variations within the larger groups, as well as to consider conflicts or differences within the groups that may impact success in marketing your client’s product.
Discuss each demographic’s disposable income; what is the group’s annual spending power?
Product Development: What product would you suggest if you were marketing to this demo, and why?
Marketing: What Media would you use to reach the group, and what would your message be?
Product/Service: Identify a product that has been marketed that was a success with any of these demographics and one that failed; provide a brief explanation as to why the product/service was a success and why the product/service failed.
Conclusion: Include a summation of your findings. This should not exceed 2-3 paragraphs and will restate the contents of the paper in a concise manner. Keep in mind you are not selling the product itself, but rather, you are making a case for your findings.