Baby Boomers' changing values: strategic implications for the small business

Abstract

<p>Many small businesses can take advantage of a forecasting technique used by l arge organizations and corporations. This study examines survey data on the changing personal values of U. S. Baby Boomers to offer small businesses a means of forecasting the demand for broad classes of products and services designed for an aging generation of Baby Boomers. This method of strategic planning lets the small business anticipate how the market for consumer products is likely to change in the next five to ten years, due to projected changes in the values of an aging Baby-Boom group currently numbering 76 million. Because their values are changing, the Baby-Boomer customers of tomorrow will likely be looking for specific qualities in the products they buy, the services they indulge in, and the causes they support.</p>