The document provides a segmentation strategy for a regional bank's consumer base that is aged 55 and older. It analyzes the behaviors and characteristics of three key generations: the G.I. Generation, Silent Generation, and Baby Boomers. For each generation, it summarizes historical events, technology usage, social attributes, and banking behaviors. It recommends conducting primary consumer research and developing a tailored segmentation strategy to better target and serve the different generational groups.

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REGIONAL BANK CONSUMER SEGMENTATION STRATEGY
BRIAN S. HARRINGTON
425.503.0586
bharrington72@gmail.com

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OBJECTIVES
 Phase I – Consumer Generational Deep Dive
 Regional Bank has defined their retail banking consumer target as age 55+
– This large group consists of 3 generations with remarkably different attitudes & behaviors
– Seniors are G.I. and Silent Generations
 Goal of presentation is to develop key insights on this target by each generation to
proceed to Phase II

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EXECUTIVESUMMARY
 Key Generational Statements
– G.I. generation is known for having had it all and then lost it
– Silent generation is known for starting with nothing and then gaining it all
– Boomers generation is known for being rebellious and selfish
 Key Generational Facts
– G.I.
≈ The most fascinating generation on the planet. Their Depression was The Great One; their War was The Big
One; their prosperity was the legendary Happy Days. They saved the world and then built a nation. They are
the assertive and energetic do’ers. Excellent team players. Community-minded
– Silent
≈ Our country’s Last Innocent Generation. Went through their formative years during an era of suffocating
conformity, but also during the post-war Happy Days. The richest, most free-spending retirees in history.
Under-appreciated and often overlooked
– Boomers
≈ The save-the-world revolutionaries of the ‘60s and ‘70s who provided the passion and masses to the
dizzying cultural revolutions of the Consciousness Movement; and, they are also they party-hardy career
climbers of the ‘70s/’80s. Their aging will change America almost incomprehensibly. The American Youth
Culture that began with them is now ENDING with them. Their activism is beginning to re-emerge

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MEDIABEHAVIOR
Source: Forrester’s NACTAS 2006 Benchmark Study
 Boomers and Seniors
are the most annoyed
by the amount of
advertising today
 Boomers and Seniors
are the most active
newspaper readers and
TV viewers
 Seniors and Boomers
do not use the internet

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SOCIALTYPES
Born/Youth: 0-21, Rising Adulthood: 22-43, Midlife: 44-65, Elderhood: 66-87
 Civic
– They are heroic, collegial, and rationalistic. Core values include community,
technology, affluence. A typical weakness (as least as perceived by others) might be
insensitivity (rationalism taken to excess)
 Adaptive
– They are conformist, sensitive, and cultured. Core values include pluralism,
expertise, and social justice. A typical weakness (as least as perceived by others)
might be superficiality (adaptability taken to excess)
 Idealist
– They are visionary, individualistic, and spiritual. Core values include principle,
religion, education. A typical weakness (as least as perceived by others) might be
dogmatism (principles taken to excess)
 Reactive
– They are rebellious, pragmatic, and materialistic. Core values include liberty,
practicality, survival. A typical weakness (as least as perceived by others) might be
amoralism (pragmatism taken to excess)
Civic Adaptive Idealist Reactive
G.I. & Millennials Silent & Homeland Boomers Lost & Gen X
Unraveling Youth Elderhood Midlife Rising Adulthood
Crisis Rising Adulthood Youth Elderhood Midlife
High Midlife Rising Adulthood Youth Elderhood
Awakening Elderhood Midlife Rising Adulthood Youth

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SOCIALMOVEMENTS
Inner-Driven Era Crisis Era Outer-Driven Era Awakening Era Inner-Driven Era Crisis Era Outer-Driven Era
1901-1924 1925-1942 1943-1960 1961-1980 1981-2002 2002-2025 2026-2051
Coming of Age Reactive (Lost) Civic (G.I.) Adaptive (Silent) Idealist (Boomer) Reactive (Gen X) Civic (Millennial) Adaptive (Homeland)
Definition Individualism flourishes, new
ideals are cultivated in
separate camps,
confidence in institutions
declines and secular
problems are deferred
Opens with growing
collective unity in the face
of perceived social peril
and culminates in a secular
crisis in which danger is
overcome and one set of
new ideals triumphs
Society turns toward
conformity and stability,
triumphant ideals are
secularized and spiritual
discontent is deferred
Triggers cultural creativity
and the emergence of new
ideals, as institutions built
around old values are
challenged by the
emergence of a spiritual
awakening
Individualism flourishes, new
ideals are cultivated in
separate camps,
confidence in institutions
declines and secular
problems are deferred
Opens with growing
collective unity in the face
of perceived social peril
and culminates in a secular
crisis in which danger is
overcome and one set of
new ideals triumphs
Society turns toward
conformity and
stability, triumphant
ideals are secularized
and spiritual discontent
is deferred
 A social movement is when people perceive an historic event that radically
alters their social environment
– There are two types of social movements (they never appear next to each other)
≈ Secular Crises: when society focuses on reordering the outer world of institutions and
public behavior
≈ Spiritual Awakenings: when society focuses on changing the inner world of values and
private behavior
 Over the next 19 years, we will be going through a Crisis Era, which was
started by 9/11. The next era will start in 2026 at which time it will become a
more stable time

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G.I.GENERATIONS(1901-1924…84-107yrs/old)
 Type: Civic
– Collective Lifecycle: 1901-2004 (last cohort turns 80)
 Total Born: 63MM
– Alive now: 6.9MM (11.1%) based on 2002 U.S. Census Data
– Immigrants: 5.7MM (9%)
 Prominent Members
– Walt Disney, Walter Cronkite, Ronald Reagan, John Wayne
 Historical Events
– Boy & Girl Scouts founded, Charles Lindbergh transatlantic flight, WWI, Great Depression, FDR New Deal, Women’s
Voting Rights, Prohibition
– War: World War I & World War II
 Technology Inception…Radio
 Movie…The Gold Rush, Gone with the Wind, The Jazz Singer
 Music…Jazz/Blues/Ballads…Irving Berlin, Ziegfeld Follies, George Gershwin
 Motto…Power
 Positive Attributes…Rational, Selfless, Competent
 Negative Attributes…Overbold, Unreflective, Insensitive

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G.I.GENERATIONS
 A “good kid” reputation as they were the beneficiaries of new playgrounds, vitamins and
child-labor restrictions
 As young adults, they patiently endured depression and heroically conquered foreign
enemies
 In a midlife, being subsidized by the G.I. Bill, they built gleaming suburbs, invented miracle
vaccines and launched moon rockets
 GI's were the first group to call themselves "senior citizens"
 Formality - wear suits and ties everywhere
 Uniformity - it is good and normal for everyone to agree, work the same and look the same
 Cooperative - put trust in government, authority and community

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SILENTGENERATIONS(1925-1942…66-83yrs/old)
 Type: Adaptive
– Collective Lifecycle: 1925-2022 (last cohort turns 80)
 Total Born: 49MM
– Alive now: 30.1MM (61.5%) based on 2002 U.S. Census
– Immigrants: 4.4MM (9%)
 Prominent Members
– Martin Luther King, Jr., Neil Armstrong, Woody Allen
 Historical Events
– Great Depression, McCarthyism, Peace Corps founded, A-Bomb, Stock Market Crash
– War: World War II & Korea War
 Technology Inception…Black & White Television
 Movie…Singing in the Rain, On the Waterfront, It’s A Wonderful Life
 Music…Swing/Jazz Bop/early Rock n’ Roll…Glenn Miller, Count Bassie, Miles Davies, Bill Haley, Chuck
Berry
 Motto…Love
 Positive Attributes…Caring, Open-minded, Expert
 Negative Attributes…Indecisive, Guilt-Riden, Neurotic

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SILENTGENERATIONS(1925-1942…66-83yrs/old)
 Grew up as the suffocated children of war and depression
 They came of age just too late to be war heroes and just too early to be youthful free
spirits
 They generally have been found to be ambitious, often seeking achievement, power and
status
 Economic losses that effected a family status left children with an ambitious desire to
overcome such losses, leading to a generation of aspirations, goals and purpose

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BOOMERGENERATIONS(1943-1960…48-65yrs/old)
 Type: Idealist
– Collective Lifecycle: 1943-2040 (last cohort turns 80)
 Total Born: 79MM
– Alive now: 55.5MM (70.3%) based on 2002 U.S. Census
– Immigrants: 7.9MM (10%)
 Prominent Members
– Steven Spielberg, Steven Jobs, Donald Trump, Bill Clinton, Oprah Winfrey
 Historical Events
– Watergate, Vietnam, TV generations, Moon Landing, Sputnik, Polio Vaccine discovered, Assassinations of JFK &
MLK, Woodstock, Civil Rights, Bay of Bigs/Castro came to power, Disneyland opened
– War: Korea War & Vietnam
 Technology Inception…Color Television
 Movie…The Graduate, Psycho, Easy Rider, The Sound of Music
 Music…Rock…Jimi Hendrix, The Who, Led Zeppelin, Elvis Presley
 Motto…Truth
 Positive Attributes…Principled, Resolute, Creative
 Negative Attributes…Ruthless, Selfish. Arrogant

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BOOMERGENERATIONS(1943-1960…48-65yrs/old)
 Self-focused, spoiled, self-absorbed and they value individuality and experience
 Boomers are more focused on emotions and feelings than generations before them
 Boomers dislikes being called “Seniors”, despite the invitations to join the AARP that are
arriving in the mail
 Only in adulthood have Boomers valued income and family
 In their youth, they were more free-spirited

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BANKING-BEHAVIOR
 Seniors are more comfortable dealing with people when they bank
 Seniors considers the bank as an advocate
 Seniors don’t bother with mail-in rebates/coupons
 Boomers like to shop around before making a decision
 Boomers are not brand loyal or price sensitive
Seniors & Boomers use
their family/friends, as
well as bank branches
for sources of influence
rather than call centers
and websites

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BANKING-SENIORS
 Very low median level of income ($48,131)
 Online financial activity – Extremely Low
– Banking online (13%)
– Buying investments online (4%)
– Researching financial products online (6%)
– Applying for financial products online (3%)
 One in Seven have a CD
 Less than 15% have HELOC/Home Loan

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BANKING-BOOMERS
 Highest median level of income ($67,688)
 Online financial activity - Low
– Banking online (31%)
– Buying investments online (7%)
– Researching financial products online (19%)
– Applying for financial products online (9%)
 One in Eight have a CD
 26% have HELOC/Home Loan

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BANKING-LOYALTY
Source: Forrester’s NACTAS 2006 Benchmark Study
2/3 of Seniors
are defecting to
competitors

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BANKING-CROSS-SELLING
Source: Forrester’s NACTAS 2006 Benchmark Study
1/4 of Boomers
are open to
cross-shopping

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MARKETING-SENIORS(G.I.&SILENT)
 The only two living generations whose core values and beliefs are similar enough that they
are usually considered a single market - Matures/Seniors
 More spending power than prior generations that have occupied their current age bracket
(Social Security)
 They spend more and very receptive to trying new products and services
 They’re more willing to switch brands
 Seniors have time to read a longer message (i.e. Direct Mail)
 Connect with grandchildren, patriotism, community
Seniors and Boomers
are receptive to trying
new brands and
products

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MARKETING-BOOMERS
 Receiving the largest transfer of wealth in human history
 Have also been very successful – Disproportionate wealth
 They’re squeezed - both in time and money (seniors/children)
 Receptive to changing brands and trying new products and services
 Not brand loyal!
 Boomers are skeptical, opinionated and selfish
They like results…
not promises

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RECOMMENDATIONS
 Phase 2 – Primary research with existing & potential consumers from all three generations
– Re-evaluate bank branches, call centers and websites
– Create awareness and positive opinion to engage and inspire acquisitions
– Establishing a loyalty program
– Developing better cross-shopping opportunities
 Phase 3 – Develop Consumer Segmentation Strategy