VEGEMITE
While there is a big focus in marketing on attracting millennials who seek innovation right now, older consumers’ preferences become more established as they age, proving our FiftyUp Club research that we are more brand loyal.
Unfortunately, this loyalty often isn't deserved. Take the example of a brand like Vegemite.Vegemite has a history spanning nearly 100 years. It was first developed by Dr Cyrill P. Callister, a young chemist from the Fred Walker Company. The Fred Walker Company would later become Kraft Food Company, an American manufacturing and processing conglomerate headquartered in the Chicago suburb of Northfield, Illinois.
My point is that baby boomers would be, on the whole, loyal to a product like vegemite even though it is now in US hands. This can be said for many name brands which are now produced by overseas interests.
It would be fair to say that Millennials' changeable brand "loyalty" helps keep brands honest. Millenials are more likely to purchase a product after reading positive on line reviews or because the product is purchased by their peers, therefore it’s “cool”.
Therefore, do you think it’s fair to make the assumption that baby boomers are more loyal to products because they, or their parents have used it for a long time and trust it?
