Creating a customer … sounds pretty basic, doesn’t it? It is equally or more important to create customers that create customers. In both instances, the process begins with knowing your customers well. And the customer generations help.
That goes without saying, doesn’t it? Segmentation targeting by generational differences can be of particular significance in this regard.
The purpose of a business is to create a customer.
–Peter Drucker
Currently, the demographics of customers span five generations. These generations are the Mature/World War II Generation, Baby Boomers, Generation X, Generation Y/Millennials, and generation Z.
In addition to the many differences among individuals within generational cohorts, businesses must contend with different preferences between generations. And to accomplish this they must know and apply these generation preferences. Let’s take a look at these generations and their preferences.
The Five Generations in the United States and Canada in the Workforce
- Silent generation (1923 – 1944)
- Baby Boomers (1945 – 1964)
- Generation X (1965 – 1980)
- Generation Y/Millennials (1981 – 2000)
- Generation Z (1995-2015)
These generation labels are primarily used in the United States and Canada. Other regions throughout the world use some of these labels, though the ages of their members of these groups tend to differ.
Mature/World War II Generation … The Silent Generation
Veterans (WWII Generation) or also known as the Silent Generation – Born before 1944
Significant Influences
- Great Depression, the New Deal, WWII, the G.I. Bill, Pearl Harbor
Characteristics
- Patriotic, loyal, fiscally conservative, faith in institutions