Explain the impact of the baby boomers, Generation Xers, Millennials, and Generation Zers on today's marketing strategies

What will be an ideal response?

Today's baby boomers account for about 35 percent of the U.S. population but control an estimated 70 percent of the nation's disposable income. This group is an attractive market for financial services, new housing and home remodeling, travel and entertainment, and health and fitness products, among others. Generation Xers carry a more cautious outlook; they are less materialistic than baby boomers, so marketers must use a different approach to appeal to them. Millennials are children of the baby boomers. One thing that all Millennials have in common is their comfort with digital technology. They don't just embrace technology; it's a way of life. The Millennials were the first generation to grow up in a world filled with computers, mobile phones, satellite TV, iPods and iPads, and online social networks. As a result, they engage with brands in an entirely new way, such as with mobile or social media. Rather than having mass-marketing messages pushed at them, the Millennials prefer to seek out information and engage in two-way brand conversations. Thus, reaching them effectively requires creative marketing approaches. Generation Zers are born after 2000 and make up important kids, tweens, and teens markets that influence almost $200 billion of their own and parents' spending. They are utterly fluent with technology and take it for granted. They are highly mobile, connected, and social. They blend the online and offline worlds seamlessly as they socialize and shop.
Marketers need to form more precise age-specific segments within each group. More important, defining people by their birth date may be less effective than segmenting them by their lifestyle, life stage, or the common values they seek in the products they buy.