Out of the Crisis.Org

[Louis Altazan]

The target market for my business has always been the GI generation, also known as “The Greatest Generation.” For multiple reasons this is the group we market to and enjoy great success with. The Baby Boomers, or the children of the GI generation are also becoming a much larger portion of our market. This is quite natural, life being as it is more and more of the former group are no longer with us.

Fortunately the marketing that worked with the GI generation seems to work equally well with the Boomers, with slight modifications. For example a website is of little use with the former group but is very effective with the latter. Convenience also seems to be more important than price. The Boomers also seem to desire much more information when making decisions.

We also know that eventually the Boomers will be replaced by Generation X and eventually Generation Y [why] and so on. I think smart companies are looking at this very seriously. The marketing that worked with the Boomers may not work at all with Gen X or Y. These groups are far less likely to read newspapers, listen to commercial radio or even want the same services as their parents.

Toyota has responded with the Scion. This vehicle is largely targeted toward Gen Y. You may notice you see almost no television commercials or radio spots for the vehicle. You will not often see advertisement in the newspaper. What Toyota has learned * is these groups like to “discover” things for themselves. Articles on the vehicle are planted on web sites. The sites are highly interactive and interesting. Displays are set up at concerts and raves. Customized Scions are often available at organized events for inspection.

More important the vehicle is geared towards the market. It is highly customizable. There are a huge number of accessories available so that the owner can personalize the vehicle. This seems very important to these groups. It is affordable, geared toward the income available.

The big three have also responded with much longer warranties. They appear to feel Gen X and Y are far more “entitlement minded.” The effectiveness of these methods is left to be seen. If a shop plans to be in business, well into the future these are factors that may need to be considered. A wait and see attitude may leave many on the outside looking in.

Have you examined your marketing methods lately? What once worked well, may be less effective. Change is inevitable and unpredictable. History, however, teaches those that prepare are far more likely to come out on top.

* Reference The Elegant Solution, Matthew E May; Free Press, © 2007

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Louis Altazan
Owner/Manager AGCO Automotive Corporation
Baton Rouge, LA