50-Plus Market : Why the Future Is Age Neutral When It Comes to Marketing and Branding Strategies

by Stroud, Dick

• ISBN13: 9780749442583
• ISBN10: 0749442581
• Format: Hardcover
• Copyright: 2006-02-01
• Publisher: Kogan Page Ltd

Summary

In their rush to appeal to the 18 to 35 age group, marketers have largely ignored consumers in their 50s and beyond. In this compelling investigation, The 50-plus Market shows why marketers can no longer ignore the inevitable consequences of demographic and economic change. The richest nations in the world are getting older and this has profound implications for the marketing profession. This book provides a fresh approach to the way companies interact with their older customers. It explains how the principles of age-neutral marketing will ensure companies capture the vast expenditure generated by some of the most affluent members of society - the over-50s. Supported by research from OMD, one of the largest and most influential media communications specialists in the world, The 50-plus Market is essential reading for those wishing to refine their marketing strategies.

Table of Contents

Foreword	ix
Acknowledgements	xi
Introduction	xiii
Marketers on marketing to the over-50s	1	(16)
Is there an issue?	2	(1)
Does the willingness to try new brands decline with age?	3	(2)
Older people are less responsive to advertising than their juniors	5	(1)
Appealing to older consumers alienates the young	6	(4)
How will marketing adapt to the power of the older consumer?	10	(1)
What's the relative importance of the ageing population?	11	(2)
What key messages came from our interviews?	13	(2)
People we interviewed	15	(2)
The future is getting old(er)	17	(26)
Marketing 101	18	(2)
The oldies are coming	20	(3)
Nice graphs but so what?	23	(1)
Follow the money	24	(3)
Nice graphs but so what, part 2?	27	(1)
Funding pensions affects consumer spending	28	(1)
The `charmed generation'	29	(6)
Nice graphs but so what, part 3?	35	(1)
`Generation broke'	36	(2)
The marketer's testimony	38	(3)
Implications for the marketers	41	(1)
Summary	42	(1)
Myths and marketing myopia	43	(14)
The top five all-time favourites	43	(5)
Strong contenders for being all-time favourites	48	(2)
Other assorted arguments	50	(2)
Is it all myth and marketing myopia?	52	(1)
How age-neutral are you?	52	(3)
Implications for the marketer	55	(1)
Summary	56	(1)
A global snapshot	57	(22)
A young and old world	57	(18)
Implications for the marketer	75	(3)
Summary	78	(1)
What's different about being `old'?	79	(24)
Health	79	(5)
Brand theory	84	(3)
Brand research	87	(4)
Technology	91	(3)
Embracing change	94	(1)
Wanting new experiences	95	(2)
Financial security	97	(2)
The age-neutral consumer	99	(1)
The marketing bottom line	100	(1)
Implications for the marketer	101	(1)
Summary	102	(1)
The strange world of segmentation	103	(38)
Keep sight of the objectives	103	(2)
50 is just a number	105	(1)
Segmenting by age	106	(14)
Segmenting by consumer lifestyle (psychographics)	120	(11)
Other segmentation factors	131	(2)
How well do you segment the over-50s market?	133	(1)
Implications for the marketer	134	(3)
Summary	137	(4)
The value of geodemographics	141	(20)
Qualitative research and geodemographics	141	(2)
Segmenting older consumers	143	(7)
The formation of `grey' neighbourhoods	150	(3)
Applying geodemographics	153	(1)
Systems for predicting age	154	(2)
Government -- the final frontier?	156	(1)
The changing profile of geodemographic clusters	156	(1)
Implications for the marketer	157	(2)
Summary	159	(2)
The rules have changed	161	(10)
The marketing landscape is changing	162	(1)
Simplistic and conflicting advice	162	(1)
The reality of the situation	163	(4)
Age-neutral marketing	167	(2)
Implications for the marketer	169	(1)
Summary	170	(1)
From theory to practice	171	(16)
Constraints on change	171	(4)
Achieving change -- corporate managers	175	(5)
Achieving change -- marketing	180	(3)
Objections to change	183	(2)
Implications for the marketer	185	(1)
Summary	186	(1)
Interactive channels -- myths, facts and unknowns	187	(28)
What is an interactive channel?	187	(3)
Myths, about technology and age	190	(2)
Facts and figures	192	(9)
Older women get the internet habit	201	(1)
The over-65s missed the digital revolution	202	(1)
Educational background determines levels of internet use	203	(1)
Ageing affects how you use technology	204	(4)
We learn about using technology in the workplace	208	(2)
Marketers are bad at controlling interactive channels	210	(1)
Implications for the marketer	210	(3)
Summary	213	(2)
Interactive media for older eyes, hands and minds	215	(24)
What's the problem?	216	(1)
The first step is to take it seriously	217	(2)
Older eyes, hands and minds	219	(4)
What can go wrong?	223	(2)
Be systematic	225	(3)
The need for research	228	(1)
The importance of testing the channel	229	(2)
Accessibility is part of the same spectrum	231	(2)
Don't forget the telephone	233	(2)
Implications for the marketer	235	(2)
Summary	237	(2)
Communicating with the over-50s	239	(12)
The forgotten audience	239	(3)
Lack of diversity	242	(1)
Creative strategy v media strategy	242	(1)
Recognizing the differences	243	(3)
Word of mouth	246	(1)
Intergenerational communications	246	(1)
Measuring success	247	(1)
Exciting times ahead	248	(1)
Implications for the marketer	249	(1)
Summary	250	(1)
Thoughts about the creative	251	(16)
Why it's so difficult	251	(1)
Something is wrong	252	(1)
Options for the creative and media	253	(1)
Things to consider	254	(7)
The age-neutral creative	261	(3)
Implications for the marketer	264	(2)
Summary	266	(1)
What of the future?	267	(14)
The tipping point	267	(3)
It's a young and old world	270	(3)
Schizophrenic about older workers	273	(2)
It is not looking good	275	(3)
Implications for the marketer	278	(2)
Summary	280	(1)
Appendix 1: Older eyes, hands and minds	281	(6)
Appendix 2: A website audit for age-friendliness	287	(12)
Appendix 3: Questions that test a company's age-neutrality	299	(2)
Appendix 4: Details of OMD's market research programme	301	(2)
Index	303