As I watched the commercials and halftime show of the 2022 Super Bowl, it struck me. The entire marketing plan for the event was focused on Generation X and Generation Y (Millennials), not Baby Boomers. Commercials spotlighted crypto-currency and electric vehicles, not Harley Davidson and traditional “wealth management” companies. Likewise, the halftime show consisted of artists most definitely not of the Baby Boomer generation. Instead of Bruce Springsteen or Aerosmith, we saw Dr. Dre, Snoop Dogg, Fifty Cent, Eminem, Mary J Blige, and Kendrick Lamar. This lineup would never have had a place in a Super Bowl even five years in the past.
In the for-profit sector, consumer habits are well-studied and taken seriously. An entire consulting field exists solely to monitor and predict consumer preferences and trends that will impact global markets. Who is buying what, why, and at what price point, are normal indicators used to develop marketing strategies and adjust products in order to meet the shifting needs and demands of consumers. This can range from shoe styles to cars to chicken sandwiches.
Trends and demands are studied, adjusted for, maximized, and catered to. Failure to pay heed to changes within the consumer marketplace or adjust…