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Marketing to the Mature MArket
Citation preview
Matching your message
with the
Mature MarketMature Market
David Chenu
Who are the mature market
How do we define them ?
How do you segment ?
• Traditional seniors
• Baby boomers
• Demographic
• Life stage• Life stage
• Psychographic
• ........
• They are not an homogenous group of ‘older Australians.’
The mature market
• Age
The mature market - segmentation
• Age
• Life cycle
Young
Transitionals,
15%
Start Up
Families,9%
Established
Households,
Senior Couples,
14%
Small Scale
Families,11%
Bustling
Families,16%
Independent
Singles,17%
Households,
18%
Life cycle
Independent Singles (1 Person HHs, No Children, 35+)
Predominantly female households,
Most consumers get to this life stage either through divorce or from never having been married.
79% of this group over 50 years of age, paid off 79% of this group over 50 years of age, paid off their mortgage,
you will find these consumers living in apartments, are often working in professional white collar established careers dining out with friends or working late in the office.
Life cycle
Senior Couples (2+ Person HHs, No Children, 60+)
Companionship, rather than age, most influences the behaviour of this group.
You might find the husband reading the latest news of on line as his wife plans ‘the next trip.’ of on line as his wife plans ‘the next trip.’
They are quite active,
In addition, Senior Couples are more likely to still live in the family home, a larger house left over from family life with children. At 86%, this life stage has the highest level of home ownership.
The mature market - segmentation
• Age
• Life cycle
• Needs
The mature market - segmentation
• Age
• Life cycle
• Needs
• Psychological development. (Maslow)• Psychological development. (Maslow)
The mature market - segmentation
• Age
• Life cycle
• Needs
• Psychological development. (Maslow)• Psychological development. (Maslow)
• Behaviour
19 IN 20 H/HOLDS BUY BANANAS pa
0.1 0.20.4
0.8
100
98
96
94
92
$62
$70$108
$148
$152
$208
% o
f th
ese h
/hold
s t
hat
buy
PA
Current retail spend is $900m per year
2002
2007
2009
2012
2015
0.1 0.292
90
88
86
84
14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
Young
Trans.Start Up
Families
Small
FamiliesIndep.
Singles
$148
Establ.
Couples
Bustling
Families
Senior
Couples
% o
f th
ese h
/hold
s t
hat
buy
PA
How many times these households buy in a year
The mature market - segmentation
• Age
• Life cycle
• Needs
• Psychological development. (Maslow)• Psychological development. (Maslow)
• Behaviour
• Psychographics
SOME TRENDS........
What do they do ?
• Living longer - ~81.9 years ( 2nd to Japan)
• 40% Australians over 50
• Spending more - $220b annual spend
• Challenging traditional stereo types• Challenging traditional stereo types
– “ don’t box me in.”
• Open to brand/products/experiences
• Embracing new technologies - FB
Who are they, what do they do?
• 25% of population
• 59% f/time or p/time
• 46% own their house
• ~ $376k. Savings• ~ $376k. Savings
• 90% have smart phone
• 90% purchased on line
• So, they have arrived!
What are their values ?
• Integrity – in all things eg food, environment;
social status, political debate.
• Engaged with BIG ISSUES
• Freedom/independence. • Freedom/independence.
• Less conservative – albeit still favour
monarchy
• Security and reliability – live well and live long
• ‘Ageless’ mindset – this is crucial to
understand.
• What are they interested in?
So, what are the implications ?
• Avoid over simplification of messages
• Tone - avoid patronisation
• Stereotype - DONT.
• They are not sitting back reading newspapers • They are not sitting back reading newspapers
– fast growing on line presence.
How should we speak to them?
• This segment is older, wiser and more
sensitive to the way they are depicted.
• They have been exposed to advertising for
decades – they are savvy and sceptical. decades – they are savvy and sceptical.
Traditional advertising doesn’t work.
• Respect their values
• They are a mature group
In summary
• A burgeoning wealthy target market.
• Strong ability to spend
• Only a small number of advertising dollars
targeting these peopletargeting these people
• Be careful and smart when you work with
these people
• They demand respect
• They don’t like bull shit.
Thank you
Questions?