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| Mature Market News - Thought Leaders and Noteworthy Events |
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Divide and Conquer The Mature Market Learn the three basic categories into which members of the mature market fall. How to best segment a target market is one of the prime dilemmas put to marketing consultants and strategists. To some extent, segmentation can be frowned upon – especially where it leads companies to spend small fortunes on campaigns with narrow appeal. But, while philosophies are many and detailed, it's generally accepted that today's 50-year-olds have significantly different characteristics and attitudes than most mature consumers of 75. For now, the mature market can best be divided – for at least certain purposes into three categories: -Pre-Retirees, aged 50-62. These are, for the most part, still working. All but the oldest are baby boomers, and most, including the oldest, think as baby boomers. They're very open to new approaches and like to have choices. Though they are saving for retirement, they are also spending, taking more vacations and, in many cases, buying second homes. Many are seeking out professional financial advice as they approach retirement. Active Retires, aged 63-74. Though they may be officially retired, they haven't disappeared. This group remain active, whether working, volunteering, or starting businesses based on their interests and passions. Others are big spenders on travel and leisure activities, DIY, and their grandchildren. In this age group there is a high rate of migration and moving, usually to warmer climates. Seniors are aged 75 and up. Born in the 1930s or earlier, these retirees are likely to have spending power but less likely to spend, after a lifetime of habitual saving. They may be more resistant to persuasion than younger members of the mature market, but are looking for solutions to questions of housing and care in their sunset years. Big buyers in the health-care market, they're not usually offended by the "senior" label and respond well to discount incentives. They're also more likely to hold traditional values, and be patriotic and religious. They also like to know that the past is remembered – witness the overwhelming positive response Tom Brokaw received with his book, The Greatest Generation. Keep these rough divisions in mind as you devise marketing strategy. But remember that they are based on generalizations, and even those are likely to change as the baby boomers get older. Active market research is indispensable in tracking the shifts. Back To Mature Market News → Go To The GenerationTarget.com Mature Market Bookstore → |
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