Discover How You Or ANYONE Can Milk Every Single Dollar From One Of The Highest Demand Markets In The World Today!
Who Are The Baby Boomers?
The Growth of an Unstoppable Market
This is the definition of the baby boomers from Wikipedia.
A Baby boomer is someone who was born during a period of increased birth rates, or
Baby boom, and the term is particularly applied to those born during the post-World War
II period of increased birth rates. In the United States, the term is iconic and more
properly capitalized as Baby Boomers.
These people are significant in the formation of a new economy of supply in demand.
Never in the history of man, has the baby boomers generation sparked such a massive
market gap to be filled.
We all heard of first mover’s advantage, where the pioneer of a new market has
considerable advantages. If successful, his market dominance gives him a considerable
advantage compared to the others who come in later and try to differentiate themselves
either on price or service rather than innovation.
Furthermore, market dominance allows
one to set the barriers of entry or the standard of quality.
If you were to own a large portion of Microsoft shares during its inception, where would
you be today? Of course not all of us will be able to proudly proclaim that I was there
when it started. Most people didn’t identify the trend and come in when it is too late!
The same would also apply to big name companies like Yahoo! and Google.
It is no point trying to get into a saturated market. There will be too much barriers of
entries and competitive forces in the market. What we need to do is identify the needs of
the market BEFORE it saturates or even better, before it starts.
We can set the trend instead of following one!
The baby boomers are the main key to this role because of their buying power as well as
their sheer numbers. Large numbers will be the key because the first movers, who
position themselves strategically, will sell product after product to a hungry market and
have his or her financial position secured for decades.
In the next chapter, we will explore where these baby boomers come from and how to
anticipate their demands from a historical perspective.
When Did It Happen?
The baby boomers applied to people who are born after the Second World War and
before the Vietnam War, thus possibly comprising more than one generation.
Most people speculate that year will be around 1946 to 1964 but the exact year is hard
to determine because it might vary from place to place.
These boomers within that time frame is significant to predicting the market demand and
the timing as well.
We are estimating that there are about 76 million American children born between 1945
and 1964. Boomers account for about 39 percent of Americans over the age of 18 and 29 percent of the total population. They will single handedly determine tomorrow’s
hottest products which means they can start and destroy trends.
For example, the baby boomers are also responsible for starting and ending the housing
boom.
When the boomers were all grown up, they needed houses to live in. Developments
went into full swing.
Steve Gillon has suggested in his analysis is this:
The one thing that sets the baby boomers apart from other generational groups is the
fact that "almost from the time they were conceived, Boomers were dissected, analyzed,
and pitched to by modern marketers, who reinforced a sense of generational
distinctiveness.
With such massive market potential and buying power, we can use history to predict and
teach us what the latest trend is because of these baby boomers.
The Cultural Identity of a World Changing
Generation
The baby boomers were the first generation of Earth to be raised on Pop culture and
television. The culture at that time is more hedonistic as compared to the past.
Music that drove their parents crazy became their purpose in life. This explains the
phenomenal fame of legends like Elvis and The Beatles (Who incidentally till today,
remains more popular than most one-hit wonder pop groups or modern icons)
Big names like Bob Dylan, Jimi Hendrix, Janis Joplin and Led Zeppelin defined the voice
of that generation.
