Tuesday, May 28, 2013

Generational marketing! Selling and buying properties in Mexico.

 This post is an excerpt from a course called "Understanding Generational Marketing", at point2 university.

Although many resources define the years a little differently, usually a few years before or after the ones defined here, these year ranges are a good indicator of the dominant generational groups:
Traditionalists - born 1925-1945
Baby Boomers - born 1945-1964
Gen X - born 1965-1980
Gen Y - born 1981-2000
Gen Z - born 2001 and after

Traditionalists also called Civics

Born in the years 1925-1945, Traditionalists are currently in the "golden years" of their lives, although they still comprise a dominant force in the real estate market.  They may be looking to downgrade to a smaller home, move to a retirement community, invest in a property closer to family or hobbies, or may even be looking to expand their home size to accommodate family who have decided to move in with them!

Baby Boomers

Born during the years of 1946-1964, members of this generation are called Baby Boomers due to a large increase of babies being born post-WWII when the economy was on the upswing, traditional family units were having more kids, and things were hopeful in society.

Gen X

Generation X (1965-1980) is comprised of individuals born between 1965-1980.  This group is sometimes known as Baby Busters, as the previous baby boom decreased and families were getting smaller due to both parents working, decreases in overall societal prosperity, and the standard of living increasing in cost.

Gen Y

Generation Y (1981-2000) is a key part of the real estate market right now, as they are purchasing homes, growing families, or looking for change.

Gen Z also called the millennium  generation

Generation Z (2001 and beyond) are too young for the marketplace right now, but don't underestimate their power during the sales cycle!

Each group has particular life experiences, characteristics and traits which makes marketing and selling very specific.  How we approach, market to, and sell each of these groups will differ, dependent on what they are expecting and needing from us as real estate professionals.


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