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Making the Most of Generational Marketing Designing & Marketing Products & Services for Seniors The Power of Understanding Cohort Effects Targeting the Mature Market by Understanding Lifestages Segmenting markets by chronological age can be improved by using lifestages, the roles one takes on while traveling through life. Lifestages define patterns of attitudes, outlooks, and daily activities. In the past, the progression from one lifestage to another used to be fairly predictable. In the past, one went to school, then got a job, married (once), had children who eventually left home, then retired, and finally died. Today, the progression is more cyclic--second (or third, or fourth marriages), second families, second or more careers, resumed education--can and do happen in various sequences and with less regard to age. And while some lifestyles are traditional--empty nesting, grandparenting, retirement, and widowhood, others are new. Eldercare, for example, only became common when aging parents began to livelong enough to exhaust their physical or financial resources, a recent phenomenon. The entry into each lifestage brings with it a new set of joys and responsibilities, concerns and anxieties. Understanding the "not-so-obvious' mindset of these roles enables marketers to recognize and understand the diversity of lifestage alternatives today. And as an individual move form one lifestage to another, the change in behavior creates and opportunity for marketing intervention. Marketing efforts attuned to lifestage changes puts products and services, customer services, customer service and relationship marketing, and promotional positioning on target for a direct hit. In this program, you will learn: -Why empty nesting creates a dramatic change in wants and desires -How marketers can satisfy grandparental concerns for their role in rearing grandchildren -How male and female roles converge after retirement -What should the role of marketers be in adding quality of life to widows, the most neglected market segment. Physiographics: Understanding How the Body Changes With Age
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