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Targeting Seniors EffectivelyPublished by: Datamonitor Published: Jul. 22, 2003 - 90 Pages Table of ContentsCHAPTER 1 EXECUTIVE SUMMARY Hot topic The future decoded Action points CHAPTER 2 THE FUTURE DECODED Definition and Introduction Trends regarding Seniors European Seniors represent a large and growing segment Older consumers possess a greater level of disposable income Marketers currently lack interest in Senior consumers Important social issues affecting Europe’s Seniors A need to continue working later in life European Seniors are facing up to reduced pensions High levels of inequality exist amongst Seniors Children will have a growing influence on CPG purchasing habits The likelihood of living alone increases with age Understanding Senior lifestages Seniority marks an important period of change and re-evaluation Marketers can capitalize on trigger points to change buying habits Understanding the life history of Seniors Period effects must be understood for effective marketing A new age of Senior consumerism Changing expectations concerning quality of life Seniors are more hedonistic than in previous generations Seniors and health As health deteriorates, specific nutritional requirements occur Marketers must resolve the indulgence versus health issue Further opportunities exist in the organics sector Only now are older consumers becoming increasingly active Seniors value and trust health professionals Communicating with Senior consumers Most Seniors are proud of their age Seniors are equally as cynical as younger generations Many current Seniors feel ignored, alienated and stereotyped Seniors are important consumers of mass media Older adults often rely upon informal sources of information The regional press could be an effective targeting medium Sector specific insights - food New flavors for food and drink help to create excitement Seniors value convenience but want to maintain pride Seniors are becoming an important part of the snacking trend The sense of taste declines with age Sector specific insights - drinks Dehydration is particularly prolific amongst the elderly Seniors respond particularly well to drinks they grew up with Less of the best - Seniors will premiumise drinks purchases Alcohol as a healthy solution to ageing problems Sector specific insights - personal care Alleviating dryness is as important as wrinkles Increasing mouth and body odor problems Conclusions CHAPTER 3 ACTION POINTS Strategy, product and research actions Update conventional marketing approaches Target Seniors’ core values with your marketing concept Resolve the paradox between ‘age’ and ‘youth’ Consider adopting “ageless marketing” Consider adopting a cause related marketing campaign Consider alliances with nutritional awareness groups Show sensitivity to the inequality amongst Seniors Use packaging to facilitate ease of product use Communication actions Embrace media relevant to the over 50s Offer attainable aspirations and inspirations Portray Senior lifestyles positively Use the nostalgia effect in communications to create appeal Communicate benefits rather than problems Leverage word-of-mouth advertising through referral schemes Promote product as an escapism of problems facing old age Show sensitivity to the heightened fears that develop with age Remove risks for older consumers Give Seniors reasons to change brands CHAPTER 4 APPENDIX Supplementary data Definitions Research methodology References How to contact experts in your industry AbstractIntroductionTargeting Seniors Effectively provides unique insights about how social trends, life experiences and needs impact seniors’ purchasing behavior. Drawing upon numerous examples of successful or ineffective marketing concepts in the packaged goods (CPG) industry, this report represents the definitive guide for all companies seeking to target seniors effectively. Scope Specific analysis of incomes, employment patterns, living arrangements and CPG spending by different segments. Analysis of pan-European and country specific data concerning health, obesity, lifestyle activities and interests, and their marketing implications. General and category specific analysis of social trends, generational experiences, and need states impacting European seniors' lives and consumption. Detailed action points pinpointing how to devise effective marketing concepts that appeal to senior consumers across Europe. Report Highlights The number of senior consumers in Europe is set to grow from 127 million in 2002 to 147 million in 2007. With an average disposable income of €19,800 Europeans aged 50-64 represent a highly attractive segment. However a new age of senior consumerism will force marketers to change their conventional approaches to targeting older consumers. Although seniors show greater awareness towards healthy eating and drinking, prevalence of obesity and cholesterol levels remain high. Marketers must resolve the indulgence versus health issue and focus on communicating product benefits rather than emphasizing the problems they seek to counter. Seniors continue to feel alienated from ineffective marketing activity. In appropriate circumstances, marketers can make use of ‘ageless marketing’ in order to target seniors with their product offerings without alienating other younger audiences. In such circumstances it is appropriate to use advocates with cross generational appeal. Reasons to Purchase Maximise financial return from targeting the fastest growing demographic segment in Europe Obtain key, concise data about social trends affecting seniors' lifestyles and consumption behavior Understand why 71% of over 55s feel that advertising does not reflect their life nowadays Get Full Details About This Report >> |
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