In the business world, there are perfect target groups for any venture, and if a business wants to perform well, it will focus exclusively on the people who will generate revenue for it. There are always preferred target groups, and in general, most market competitors go after them. In addition, companies tend to move towards the path of least resistance, while ignoring routes that are difficult, not easily understood, or too restrictive. The Entitled Generation is like that these days.
The Role of the Entitled Generation
According to the calculations of the RISE Generation Research Centre, the generation born between 1937 and 1948 is usually excluded from economic analysis, as those who are building a successful long-term business typical ignore those that are aged 73-84. Obviously, making a distinction between age groups on the basis of age alone is taboo, so as a workaround, companies choose to simply talk about the other generations. Many businesspeople believe that the manager class composed of younger generations controls the decisions of the Entitled Generation; of course, companies have to listen to what the Entitled Generation wants, but in the end, it will be their children who call the shots. After all, the children of this generation belong to the generation known as “The Precisionists”, they were born between 1961 and 1972, so they are already experienced adults, and they are usually at the peak of their careers, so we expect them to make most important decisions. But the Entitled Generation, in addition to several important characteristics, can be said to be made up of people who are very resilient, strong-willed, and often stubborn. They grew up in a very tough era, and determined, conscious, and unwavering decision-making has become an essential feature of the way they live their lives to this day, even if they have become elderly in the meantime. Typically, their role within the family has always been the real leader who has had a serious impact on the entire family. This often required strong willpower, and they did not shy away from autocratic solutions; moreover, it was authentic power, which helps explain why it worked. The biggest challenge for them is precisely the loss of this leadership role and the fear of helplessness. Or more than fear, the awareness that this is going to happen. They certainly do not want to be the “victims” in general, who will have to be cared for, who are unable to provide for themselves. We are talking about a tough generation who will not leave themselves to the end, and if someone wants to address them, it is better to acknowledge these basics.
This generation has emerged strongly in the retirement home, or for a worse name, the “nursing home” market, and not many can address them properly. Namely, it should be noted that they want to live their “last days” nicely at home; they want to spend them in the environment they have built and dominated. And not even their most immediate loved ones can convince them otherwise. It is often seen that the parent-child relationship, in which the child’s generation can otherwise become a victim, is tired of this difference in thinking. After all, parents have a specific idea and expect life to continue based on it, and in many cases, they want their children to follow the often-impossible direction so strongly that it can seriously frustrate the final stages of life. Here, of course, the solution could be to place the Entitled Generation, who often need supervision or constant supervision and care, in the appropriate institutions. However, in this business, they are not always able to follow the new approach resulting from age-related changes, and their communication, brand, and sales principles are very far from the needs of the target group. Because, in this case, the target group is indeed the 73-84 age group, and here, it is not enough to convince the manager child with money and funding background. That will work for the next generation. And you have to see that the Entitled Generation is not old and doesn’t want help. They want support and respect, recognition for the last stage of a difficult, tough decision-making life in which their pride and daily “power” can remain at an appropriate level.