Marketing to Seniors

Paper Summary:

This paper begins by providing a scan of marketing trends in the current business world. It then moves on to the phenomenon of marketing in the senior citizen sector and the changes that need to be made to classic marketing methods in order to fit this unique population group.

From the Paper:

"The Wall Street Journal recently ran an article looking into the changing needs and desires of the new class of elderly, the aging baby boomers. "We are stunned at the high percentage of older consumers who felt that their needs were not being met. According to a survey by Georgia State University, consumers 55 and older control 75% of the nation's wealth, and about half of the discretionary income. Other studies from Grey Advertising warn that marketers who overlook the 50-and-over market could be headed for disaster. The over-50 age bracket is an especially good market for tax and legal advice, home entertainment, financial services, and travel and clothing." Time Magazine also echoed the findings as they chided Madison Avenue for disregarding a vast, long ignored market. (Bauer, 1989)"

More papers on Marketing to Seniors:

• Marketing Plan # 128514 : "Marketing to Senior Citizens"
• Case Study # 124306 : "Coca-Cola's Marketing Strategy"
• Marketing Plan # 50095 : "Senior Housing Marketing Plan"

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