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Baby Boomers: A review of their automobile buying habits and the cars

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2 years - Marketing Specialist at Delphi Technology, Inc.
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Advanced
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marketing
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Franklin...

About the document

Maribeth F.
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documents in English
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presentations
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6 pages
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Advanced
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  1. Introduction.
  2. Review of the literature.
    1. About Baby Boomers.
    2. Why some Boomers are reluctant to purchase new cars.
    3. The reasons Baby Boomers purchase automobiles.
    4. The types of cars Baby Boomers purchase.
    5. Boomers feeling 30 years younger.
    6. The Boomers living in the lap of luxury.
    7. Nostalgia for Baby Boomers.
  3. Conclusion.

There are many markets that one could choose to target in the world today. America alone has the most diverse population, whether they are segmented by age, race, or generation. One of the most popular market segments happens to be the baby boom generation. This group makes up a very large market segment, and is becoming a popular target when it comes to automobiles these days. Over the past few years, baby boomers have been buying different types of cars, depending on their lifestyle, income and attitudes. This is simply because, ?More than most other products, automobiles reflect the personality, status and consumer behavior of its owner and are strongly associated with particular lifestyles and age groups? (Menchin, 1989, p.167). Some have also remained out of the automobile market, and prefer to repair rather than replace their existing cars.

[...] Product and appeal is the reason why all of these luxurious cars have attracted the baby boomers, and made their segment a popular one to target when it comes to luxury these days. Baby Boomers are breathing in Nostalgia The most recently made popular automobiles that are purchased by baby boomers are those that give them the sense of nostalgia with their retro styling. It is proven by Youn (2001) when he states: ?After one look at the mixed bag of newly designed nostalgic automobiles in the 2002 line-up, it's evident that automakers want to take us back to the good days. [...]


[...] Kranz, Rick. (2004, February 2). Chrysler mulls retro's future. Automotive News, 78(6078) Menchin, Robert S. (1989). The mature market: A strategic marketing guide to America's fastest growing population segment. Chicago: Probus. Morgan, C., & Levy, D. (1993). The mature market: Identifying, targeting and reaching America's diverse, booming senior markets. Chicago: Probus. Moschis, George P. (1992). Marketing to older consumers: A handbook of information for strategy development. Westport: Quorum. Moschis, George P. (2000). The maturing marketplace: Buying habits of baby boomers and [...]


[...] The population of baby boomers were born between 1946 and 1964, and grew up in the 1950's and 60's (Menchin, 1989). For the most part, they are highly educated, have high incomes and both the men and women of the house have careers. ?They represent a consumer market that is larger and more lucrative than any that came before? (Menchin p. 219). This statement is just as informative as it is factual. Marketers would be very bright if they targeted baby boomers for their products because of its size and lifestyle. [...]

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