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BABY BOOMERS SCENARIO
The Baby Boomers represent a generational microculture that has lived the same defining moments in history such as post-war affluence and progress. A huge percentage of the Baby Boomers have reached retirement age, but according to a survey, most Americans between the ages of 50 and 55 want to move on to an "encore career" instead of retiring to a life of leisure like previous generations. Many of these encore careers combine income with social impact, meaning these individuals want to do something that can change the world. "Social sector" industry jobs, such as health care, educational services, nonprofits, performing arts, museums, and libraries, are expected to experience robust growth in the next decade, fitting nicely with the aspirations of the Baby Boomer generation. Some Baby Boomers want to get involved with social causes as a way to identify themselves as distinct from their predecessors. The fact that many of them are now pursuing encore careers would mean that they won"t have much time to spare in caring for their grandchildren. Their children might be upset because they expect their parents to help with child care just as their grandparents did for their parents. Many of these Baby Boomers have lesser number of grandchildren than earlier generations as most of their children either decide to have no kids or adopt a one-child policy. This makes it possible for their children to maintain a lifestyle similar to their parents even though most of them are not as affluent or well-off as their parents. Many firms that provide services for taking care of the elderly are aware of the spending power of this specific population. The firms are conducting research on the Baby Boomers to assess their needs based on attributes such as age, income, gender, and religion. Refer to Baby Boomers Scenario. Many of these Baby Boomers have lesser number of grandchildren than earlier generations, as most of their children either decide to have no kids or adopt a one-child policy. This makes it possible for their children to maintain a lifestyle similar to their parents even though most of them are not as well-off as their parents. Which of the following trends affecting consumer behavior is illustrated in this scenario?
a. Declining birthrates
b. Declining consumer affluence
c. Increasing life expectancy
d. Increasing population
e. Increasing cultural diversity

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