Lecture 11 - Over 50's marketing

Growing older is getting cooler, according to the ad industry. As those who (mis)spent their youths in the late Seventies hit the “big five-oh”, marketers are wondering how brands can target this new wave of oldies.
http://www.marketingweek.co.uk/home

Growing older is cooler... huh you must be joking... Not Me mate

So reaching 50 does not have to mean slipping on furry slippers and curling up on the sofa with a cup of warm cocoa. There is life in the 50-pluses yet, and where there is desire and aspiration, you can bet a marketer will be lurking close at hand offering a path to salvation through consumerism.

Old people's marketing sound just so boring to me. What's the point, i mean their not young any more to do any but then again not every old person is the same. Some 50 years old look so young, you can't even tell, but some are still fun. Which reminded me of this ad below, bless them, their so bubbly:



Did you see what i meant. They still got it in them.
However their are some ad that just don't let you get old. Its not like that a bad thing but just went a bit over the top. Have a look your self:




The over 50 generation are an increasingly powerful group. Owning 80% of the UK's wealth. This adult generation's population are dramatically increasing and by 2020 they will make up more than half the adult population.

Marketeers and advertisers adore this group as it makes advertising easy for them. It is said that the most brands are successful when they learn to grow up alongside their consumers. Thus keeping their brand loyalty.


Generational Marketing consists of the following,

a. Teens
b. Pester power
c. Generation Y
d. Generation X
e. Baby boomers
f. Over 50s

Generation X

'The generation of people born between 1963 and 1981 who entered the workplace from the 1980s onward, bringing new attitudes to working life that run contrary to traditional corporate expectations'.

(BNET UK, 2010)

This is the time when new employees where being recruited and there was a different way in which people worked for example, due to the culture back then working life was a lot diferent to that in todays world. In those days people would go to work, come home and rest and then do the same thing the next day.

Generation Y

'A label attributed to people born during the 1980s and early 1990s. Members of Generation Y are often referred to as “echo boomers” because they are the children of parents born during the baby boom'.

(Business dictionary, 2010)

This is where the new generation has taken over. This generation requires a lot more attention. Along with the extra attention, this age group requires a lot more technology orientated work place.They are abandonment and unique but also not that wiser then the generation X therefore they attract attention to generation X.

Over 50's marketing has to be done very careful. This is because they are old and not as wise as they used to be as their getting old. If you were to market a product for the old men then it would be wise to do in the newspapers as older people tend to stay together with the current affairs. Also targeting in places like Iceland where they shop mostly, or at bingo were they spend their nights.


Traditional Attitudes of over 50's

Many people over the age of 50 tend to buy certain types of products, this may be due to different events that has happened within their lifestyle such as the world war 11. Their particular affinity includes:

FOOD: Ice cream, crackers, sweet biscuits, artificial sweeteners, soups, bread, cakes, frozen fish, and stock and gravy.


FINANCE: Life insurance, buildings and contents insurance, premium bonds, NSI bonds, stocks and shares, unit trusts, and ISAs/PEPs.


DRINKS: Any traditional alcohol, tea, fresh coffee, and milk.



Health & Pharmaceuticals: Vitamins and supplements, Rheumatism, and Arthritis remedies.


Leisure & Holidays: they tend to take more organised holidays, coach trips, castles/ stately homes, plays/classical concerts/ballet, trust membership and bingo


There top media are:

TV: BBC News, Antique Roadshow, Heartbeat, Miss Maple, Who wants to be a millionaire?, Bargain hunt, Natural World, and Gardeners World.


PRESS: Daily Mail, Daily Telegraph, Saga Magazine, Birds Magazine, Readers Digest etc...


RADIO: Folk/ country music, easy listening, music mainly form the 50/60s, and classical.

http://www.marketingweek.co.uk/home/marketing-to-old-generation