Consumer behaviour plays a very crucial role in the handling of the operations and thus will support a good handling of the business operations that will support a good rise in the revenue generation and gaining of good amount of revenue. The essay covers the influence by the boomers getting attached as well as strict over the kids (Biswas and Roy, 2015). Various topics and their associated theories are been evaluated and thus will help in good rise in the compatibility and thus facilitates a good rise in effectiveness of the baby Boomers. Other than this, certain marketing implications are been identified and discussed.
a) With each of the three topics, explain what is behind the various phenomena described in the article
The baby boomers are the demographic groups that are been based within the organisation or a social setting. They are the people born between the silent generation, and generation X. As per few assessments, they are the wealthiest, most active and physically fit group in the generation. The baby boom is regarded as the shock wave and a difference between the young people and are tended to suffer from midlife crisis. They are known for good taste for apparels, food and other facilities, they are criticized fr the high level of consumerism. They can be identified under the following theories of various topics.
Culture plays a very deep role in the actions and activities within the society that will influence the baby boomers to a greater extent. The ongoing culture on surrounding and the adoption of different practices have impacted the boomers groups to a greater extent. The local and international culture will lay an impact on operations and thus facilitates a good rise in the healthy relationship between their children's and the parents. According to culture theory, baby boomers are struck between the care for their dependent children's and responsibilities towards their older parents (East and et.al., 2016.). This situation has arisen due to delays in child birth due to cultural influence and ongoing trends and increase in medical facilities leading to prolonging the life expectancy of elder peoples in a social group or setting. With the passage of time and increase in financial requirements, the baby boomers or parents and adult children's are required to effectively handle the households chores and cost sharing.
On the social level, they fall under the elite class which means they are habitual in using the luxurious and high ended products and services. This has lead their and children's mindset accordingly to the financial and social status. But the parents under the category of baby boomers have to see through the effective management of their children in order to provide them with a proper insight about the financial freedom they can get when they will leave the dependency on their parents. Also, the tendency to use the luxury items and behaviour, their expectations increases to a higher extents and thus the baby boomers are forced to have a delayed, longed and costly retirements due to their kids. The baby boomer parents have to teach their kids to be financially supportive by either making them learn about savings and reducing the expenses or to earn and make money to maintain their requirements. This, will prevent the kids becoming a financial burden on their parents (Solomon and et.al., 2014.).
Besides this, the baby boomer parents have to look after the proper motivation for their kids in order to motivate them for a good handling of the operations and thus facilitates their moving out from home to get financial support. The repercussions and restrictions that will be placed by the parents over their children's in order to make them financially viable. The need of achievement according to the McCelland will be the biggest motivational factor for the kids of generation X to reduce their dependency on baby boomers and get a good exposure to financial processes. On the initial stage they may be susceptible to face failures but the back end support from their parents will encourage them to make decisions by their own and reduce their chances to be a financial load over the baby boomers.
b) Based on the topics chosen for your answer to a) above, what are some specific marketing implications you can identify?
Various marketing or promoting implications can be taken in effective thought process will help in good rise in effective assessment of the operations that will help in good rise in effectiveness of the operations that are been taken in consideration by the baby boomers parents. On the cultural level, they can see through the adoption of the latest trends related to the cultural benefit of the baby boomer parenting and encouraging them to take suitable steps to have a financial stability (SchÃ¼tte and Ciarlante, 2016). Other than this, nowadays the generation to prefer to be self sustainable and be less dependent on their parents for the fulfilment of their requirements.
Apart from this, the social stability has to be taken in consideration by the baby boomers as it will help in good rise in the capability of the organisation to meet the operations and capabilities in a very effective way. To promote the practices related to their social status will help the parents and the kids to plan their expenses accordingly.
Other than this, the motivation within the kids and their baby boomer parents to have a financial stability and considerations will help in good rise in improvement of the kid's perception towards the money and thus will prevent them to be a monetary load over their parents. It will motivate them to have the money of their own to fulfil their personal expenses (Horner and Swarbrooke, 2016).
It can be concluded that the behaviour of a customer like baby boomer parents have to be managed effectively in order to improve their viability and gain a good control over the financially draining by the kids. The assessment of cultural social and motivational factors will help, both parent's and their Generation X children's to have the proper planning of the financial resources and thus will help in good rise in meeting of their requirements in a better way.
Books and journals
- Biswas, A. and Roy, M., 2015. Green products: an exploratory study on the consumer behaviour in emerging economies of the East. Journal of Cleaner Production, 87, pp.463-468.
- East, R. and et.al., 2016. Consumer behaviour: Applications in marketing. Sage.
- Horner, S. and Swarbrooke, J., 2016. Consumer behaviour in tourism. Routledge.
- SchÃ¼tte, H. and Ciarlante, D., 2016. Consumer behaviour in Asia. Springer.
- Solomon, M.R.and et.al., 2014. Consumer behavior: Buying, having, and being (Vol. 10). Pearson.