Baby boomers (consumers in the 50+ age bracket) are the wealthiest, fastest growing consumer group in the world. Despite this, the vast majority of marketing spend is focused on much younger people. Recessions always dampen consumer spending, but in the 21st century's first recession, the decline in spending among the younger age group has been amplified by excessive borrowing and collapsing house prices. More so than ever before, the current global recession highlights the need for firms to revise their marketing strategies and practices in order to remain competitive. In this book, Ian Chaston uses original case material to propose strategic solutions that take advantage of the moneyed segments of the maturing boomer market. Key topics covered include: marketing errors made by UK banks in the current global crisis, market research, customer targeting, marketing strategies and pricing innovation, and, promotion and distribution. A world first, "Boomer Marketing" is useful for students of marketing and consumer behaviour and is essential reading for practitioners who understand the need for money-oriented marketing.
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