Chapter 9 Targeting a Market 151 Copyright Goodheart-Willcox Co., Inc. Age Age is a common segmentation variable because people of different ages have different needs and wants. For example, babies require special food. To meet the need of this age group, a number of companies specialize in making baby food. Clothing is another area affected by the age of the target market. Different age groups often like or want different products. An important age variable is generation. A generation is a group of people who were born and n lived during the same time period. People within the same generation are often called cohorts. Common generational categories are listed in Figure 9-1. A multigenerational population is made up of people n who represent multiple age groups and generations. The period of history in which a group of people grew up has a major effect on their attitudes, wants, and needs. For example, people in Generation Z have a high interest in electronic products, informa- tion technology, and on-demand buying. One of the largest generations is Generation Y, also called the Millennial generation. These people l were born between 1981 and 2000 and came of age at the turn of the 21st century. The number of Americans in this generation is estimated to be over 80 million. Millennial consumers have been influenced by the September 11th attacks, the Great Recession, and the digital revolution. The digital revolution is the continuing expansion of technical, economic, and cultural changes resulting from advances in computer technology. The shared expe- riences of a generation affect not only their attitudes and perspectives, but also the product demands of the people within each generation. Gender Customers are often grouped by gender because men and women tend to have different needs and wants. Certain goods and services are preferred by men, by women, or by both genders. For example, spa services are more popular with women, while more men buy hand tools. However, if a company is selling hand tools or spa services, Generations Generation Born Between Common Traits Greatest Generation 1901–1926 • Loyal • Moralistic • Team players Silent Generation 1927–1945 • Cautious • Disciplined • Tendency to conform Baby Boomers 1946–1964 • Ambitious • Hardworking • Multitaskers Generation X 1965–1980 • Pragmatic • Self-sufficient • Skeptical Millennials (Generation Y) 1981–2000 • Confident and social • Technologically savvy • Validation seekers Generation Z 2001 and beyond • Raised with technology • Independent and entrepreneurial • Influenced by trends Goodheart-Willcox Publisher Figure 9-1 A generation is a group of people born during a certain time in history. Ollyy/Shutterstock.com Generation Z is made up of people born in 2001 and beyond. What characteristics do you think you share with others in your generation?