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Marketing to the US Senior Population

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Demographic shifts: Take on the role of a brand manager and consider that the increasing median age of the U.S. population is sure to affect your brand's approach to consumers.

● Discuss how to use the increasing number of seniors and older Americans as an opportunity by adjusting each part of the brand's marketing mix (that is its product, price, place and promotion).

● Share an example with each point made.

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Solution Summary

* How brand managers or companies can use the information of an increasing senior population to adjust their marketing mix to cater to them Using the marketing mix to target the senior population (with some examples)
* 1,093 words
* three (3) no-APA/MLA references

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The marketing mix is the result of a marketing manager's efforts to combine the marketing activities and form a satisfactory marketing mix that is appropriate for its target consumers. To do this, they need as much information provided by marketing information systems as well as research and sales forecasts. Its major components are the product, price, distribution, and promotion. Blended all together, the four elements can create a total package that best satisfies the US ageing market's needs.
The seniors, the Baby Boomers or the older generation think differently than the young but today's 75 year old people feel and think younger physically than people who were at the 65 yrs old range about 15 to 20 years ago. The recent 'seniors' often think and feel younger than their age .
Since they feel and think young, they enjoy adventurous activities that people of the same age in the past find strange. Older people nowadays are active and explorative. Theywant to learn new things, start a new business and even support new groups. They'd want to go to the sauna and hotel, resort, gym, lively places and are active at night.
Products that would interest them are mostly from the travel and retail sector. The older generation have the most number and it will be best to start catering to their needs if managers want to improve their sales performance. If you are a brand manager in a restaurant, always remember that the old generation need bigger and clearer font to read the menu. Some of them might not have brought their glasses and many of them don't ...

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