Final answer:
The Baby Boomer generation, born between 1946 and 1964, currently has the largest market size due to their significant population and established spending power, making them a key demographic for marketers.
Step-by-step explanation:
When considering the demographic category with the largest market size in the U.S., it is important to take into account not just the current size of the group, but also their market power and spending influence. The Baby Boomers, a cohort born between 1946 and 1964, have long been a dominant force in consumer markets. According to the 2020 Census, they represent 22% of the U.S. population, amounting to more than 74 million individuals.
This generation has redefined societal norms throughout each stage of their life, influencing a range of products designed to match their lifestyle and aspirations at various ages. With the eldest Baby Boomers having reached an age typically considered 'elderly' by census standards, and with their well-documented spending power, Baby Boomers presently hold substantial sway in the marketplace and represent a key demographic for marketers to target.
Historically, Baby Boomers were the first generation to have significant spending power as children and teens, and they continue to influence the market significantly as they age. Their preferences lean towards traditional media such as television for news and information. This television tendency makes TV a valuable channel for reaching out to them. Thus, despite the marketing focus often placed on younger generations due to their social media presence and tech-savviness, the Baby Boomer demographic remains substantial and significant for firms like Stan's marketing firm that design ad campaigns targeting specific groups.