With this book, organizations can develop effective marketing strategies for serving the older consumer market. Assistance is provided in the form of information and recommendations for marketing action. Existing knowledge is summarized and additional information from a large-scale study is presented to fill gaps in existing knowledge. Using the strategic framework familiar to marketers, information is organized and presented as it may apply to specific stages in the strategic marketing process; key issues are raised and information is presented to address them. Intended for the busy marketer who needs access to state-of-the art knowledge and its implications for marketing strategy development, the book includes information on the mature market, market segmentation and market targeting, as well as analysis of older consumers’ behavior with respect to areas of the strategic marketing process.
The book begins with information relevant to the analysis of the mature market, such as size and wealth, and how this market differs from younger consumer groups. Next, it presents information useful in analyzing opportunities that exist within this market in the form of unfilled needs, as well as information related to segmentation and target marketing. Analysis of market behavior is presented next, focusing on financial and consumption lifestyles. The bulk of the information presented in this book is on consumers’ orientations toward business offerings and strategies, focusing on analyses of older consumer responses in all areas of the marketing mix–i.e., new product development, pricing, distribution and promotion, and recommending specific courses of action. Finally, an effort is made to summarize the information, using a strategic marketing framework, and to make recommendations on how to market to older consumers.
