Describe three generational cohorts.
(1) Baby boomers are those among the U.S. population born between 1946 and 1964. These Americans are growing older and are the wealthiest generation in U.S. history. (2) Generation X are those among the 15 percent of the U.S. population born between 1965 and 1976. These well-educated Americans, also known as the baby bust cohort because of declining birth rates, have a collective net worth that is less than the baby boomer generation. (3) Generation Y are the 72 million Americans among the U.S. population born between 1977 and 1994.
The rising birth rate of this "baby boomlet" cohort is the result of baby boomers having children. A subset of this generational cohort are millennials, who are younger Americans born since 1994. Because each generational cohort has its distinct attitudes and behaviors, marketers have developed generational marketing programs for each of them