Over 50's Marketing

Soloman 2006 states 'By the year 2010, 20% of Europeans will be 62 or older. The fastest growing age segment can be explained by the aging of boomers, an increase in awareness of healthy lifestyles and nutrition, coupled with improved medical diagnoses and treatment.' This means that today the over 50's are a much larger target market for companies to attract.

The following link shows how the population is changing over time http://news.bbc.co.uk/1/hi/uk/4045261.stm

According to research from Millward Brown 2005 as consumers the over 50's or 'Grey Market' represent a opportunity for most marketers. In developed markets, they are relatively more prosperous, and are open to new ideas. As heavy media consumers, they can be reach more easily than many segments; but in terms of content, communications need to be carefully targeted for this audience. In general, with age come a sense of increase confidence. Membership of a 'tribe' becomes less important, and a sense of identity is more likely to come from within. As a consequence, older people are not a homogeneous group; health, wealth and lifestyle attitudes also play a role. Some prioritise holidays, some prefer to lead a quiet life at home entertain by TV and some seek new experiences, while other aim to become influential in their communities.

While there can be assumptions that older people are set in their ways, this older target market can be as experimental as the younger generations. A study conducted by Millward Brown Firefly Australia suggests that people over 55 years old are as open to new opportunities and experiences as the younger targets. Endorsement of the statement "I am adventurous and will try new brands and products before anyone else" was 21% for under 55s and 22% for over 55s.

Some 50 year old these days are 51 going on 35. They are computer literate, style conscious, knowledgeable about contemporary music and, probably more 'groovy' than grey. Remember, both Mick Jagger and Paul McCartney to name but two, are now the wrong side of 50. They consider themselves to be in the 35 year old marketplace. However, there are others in that same segment that are old before their time and it shows in everything they do.

According to a recent TGI survey, the Third-Agers can be divided into five lifestyle groups:



'Thrifty Traditionals', accounting for 17% of the age group. They are not well off and budget for every penny, are heavy TV viewers and read down market tabloids.

'Outgoing Fun Lovers' contribute another 20%. They are magazine oriented, enjoy travelling, eating out, entertaining and are above average viewers of TV.




'Astute Cosmopolitans' account for 18% of the age group. These are the ones with most money, read broadsheet newspapers, specialist and lifestyle magazines. They enjoy foreign holidays and are light TV viewers.





'Apathetic Spenders' for a further 22% of the group. They take on debt through credit cards and do not like foreign holidays. Favoured newspapers are the tabloid press.






'Temperate Xenophobes' make up the remainder. They love the Radio Times, most definitely do not like foreign food or travelling abroad and are heavy TV users.

Each generation produces its own heroes who can increase interest and sympathy. One formula that works internationally with the over-50s is to feature celebrities from their generation in advertising. When a celebrity appears on the screen in adverts aimed at the over-50s viewers, they understand that this advert is aimed at them. The fact that a personality who they admire has taken the risk of being associated with a brand is a pledge of sincerity. For example, Michael Parkinson has been around for a long time and has an image of being strong, secure and likable. For Sunlife this was obviously their aim by using him as the face of their Over50Plan.

Saga is a big marketer to the over-50s, they have been selling cruises, insurance and other services to older consumers since the 1950s. Its database containing demographic information is the envy of the direct marketing world. However, many believe its profile is more geared to post-retirement age groups than “young 50s”, leaving a gap in the market. In an article in Marketing Week, David Benady states, "The current set of 50-somethings may be a Peter Pan generation that refuses to grow old; certainly, stars such as Madonna and Iggy Pop are doing a good job of preserving their youth. And people’s pursuit of staying younger older makes it easier for marketers looking to separate the new grey wave from their cash."

Over 50's marketing is a very large area to cover, as Bendady say they are the new younger over 50 who are very different to over 70's. Marketers will definitely need to take this into account when trying to get their product or brand out their. The big question they should be asking is 'Which section of the over 50's should we be targeting?'

Research on Charity Giving

Charity can be defined as an openness and generosity to others, especially in the support of those in need. Encyclopedia (1997)

The UK charities market is extremely crowded, with a large number of charities and relatively slow growth in new registrations. The financial income of the market is concentrated in just a few very large charities, with 0.4% of charities accounting for over half the sector’s income. Mintel (2008) Because of this choosing which charity to support is difficult.

The over 30’s focus group that I interview as part of my charity research appeared to give more money to charity as they have more disposable income than Students. The students said they would give more if they could but also preferred to get involved with activities to raise money than give straight donations. The over 30’s also appeared to be very influenced by their children. One person said “now my children are getting older they want to be more involved in school activities which means I end up donating to causes that the school has picked and not myself”.

Cancer Research UK currently has the highest voluntary income of all charities with two thirds more income than Oxfam. The next highest charities by voluntary income are; British Red Cross Society, Save the Children, Action Aid and UNICEF-UK. Mintel (2008). There are also the smaller charity organisations who are locally based or just starting out, these charities may be less well known and have a smaller support system. When asking our focus groups which charities they usually donate to a similar response was recorded for both, neither group said they would never give to a larger charity such as Cancer Research UK but were more inclined to give to smaller or local charities as they can witness the effects that donations make and see where their money goes. One student said “I would not give to big charity campaigns as my money would get eaten up in overheads and not actually help the charity itself”.

Mintel (2008) suggests that; one third of consumers who have a positive attitude towards charities are inactive when it comes to giving. Over a third of consumers are completely unengaged with the charities sector, whilst just under a third is sceptical about how much good their donations will do. There are three types of consumers when it comes to charitable giving, the unconcerned, the sceptics and the givers who represent a third of the population. Of the three target groups, the givers are the most positive about charities and are the most likely to wear charity wristbands/ribbons. These consumers are motivated by making other people’s lives better, and they are more likely than the population as a whole to trust charities and think they are impartial. However, even though they are very much in support of charities, three quarters of these consumers still do not like being stopped and asked to make a donation on the street. When the focus groups were asked about giving donations on the street the students flat out said no they would not give money or account details to anybody who stopped them in the street. However the Over 30’s group said they would not give their account details to anybody on the street but they do like the sentiment of giving spare change to a charity representative with a donation pot all agreed the spontaneous giving made them feel good about themselves.

Children’s charities were also popular among the focus groups for different reasons. The student focus group said this was because they have known people growing up that have been affected by illnesses therefore can relate to the charities with the charities they also said that children are important as they are the next generation and should have the best care. The over 30’s on the other hand feel that children’s charities are important as most have had their own children so would want the best care if anything ever happen to one of their own. 'Using real-life personal stories in communications is likely to strike a chord with consumers'. Mintel (2008). The results have shown a strong preference from both groups of donating to disaster charities especially the students.

Generational Marketing - Gen X

Generation X " the cohort of consumers aged 18 - 29, who were profoundly affected by the economic recession of the early 1990's" Soloman 2006

Generation X is commonly abbreviated to Gen X. This generation was born after the baby boom ended, the earliest birth dates used by researchers ranging from 1961 to the latest in 1981. The term Generation X has been used in demography, the social sciences and marketing though it is most often used in popular culture. There is a population of about 60million people who fall into Generation X.

Music for Advertising

The top hit songs of the 1990's were;

1. Nirvana, Smells Like Teen Spirit 1991
2. U2, One 1991
3. Backstreet Boys, I Want It That Way 1999
4. Whitney Houston, I Will Always Love You 1992
5. Madonna, Vogue 1990
6. Sir Mix-A-Lot, Baby One More Time 1999
7. Britney Spears, Baby One More Time 1999
8. TLC, Waterfalls 1994
9. R.E.M, Losing My Religion 1991
10. Sineado’Connor, Nothing Compares To You 1990

These are songs that all age groups within the Gen X category can remember and relate to. Marketers that want to market to this particular generation could use these hit songs to reach them through nostalgia advertising.

Values

The number of divorces granted in the UK in 1961 was 27,000. This doubled to 56,000 by 1969, and doubled again to 125,000 divorces by 1972. This fact would have effected peoples values and this generation changed dramatically from the previous Baby Boomers.

Technology

Gen X would have grown up with technology booming. They had Colour TV with 30+ channels, VCRs, Nintendo Game Consoles and also Sir Timmothy John invents the World Wide Web at the start of the 90's.

Personality / Attitude

• They like money, but they also say they want balance in their lives, this makes it hard to influence them to buy
• They're self reliant and impatient
• When thousands of their parents were laid off in the early 1990s, Gen X decided company loyalty was a 'sucker act'
• Gen X adopts chameleon personality to cope - meaning the like to go with the flow and keep up to date with the latest tech

This group consumes media differently than earlier generations. Communicating with them through traditional marketing channels can be difficult. So to communicate your message, and get them to take action, research has found that the best way is with a combination of online marketing and direct mail. Direct mail is one of the most powerful ways to market to Gen X according to a recent study conducted by InnoMedia, NuStats, and Vertis. They say that 86% of Gen Xers bring in the mail the day it's delivered. Furthermore, 68% of Gen X retail direct mail readers have used coupons received in the mail. Gen X consumers rate 75% of the mail they receive as valuable.

Nostalgia and Memory

"Every time an advertisement or commercial appears, the objective is to have the reader or viewer learn something … and remember what he learned" Britt 1955

“Nostalgia has been described as a bitter-sweet emotion, where the past is viewed with both sadness and longing.” Solomon 2000

Nostalgia is used in advertising to trigger happy memories around the product that is being sold. This can be done through the 5 senses; music or particular sounds can act as trigger, images such as iconic fashions, smells like perfumes, touch and taste. Sensory branding creates a link between the consumer and the product as senses are linked to our memories. Here is a mood board of things that make me nostalgic

One example of nostalgia being used in advertising is the Nicorette adverts that were released this month. They have copied a series of classic movie moments with the leading characters inhaling an anti-smoking aid instead of a cigarette. The narrator introduces Nicorette inhalators as the closest thing to smoking without smoking, and suggests that it helps when cutting down gradually or quitting all together.

Another way nostalgia is used in adverting is by reminiscing on the brand itself and how it has changed through the years. This is certainly the angle that Abbott Mead Vickers BBDO took for this Heinz's advert.

The montage of familiar Baked Beans ads from the past aimed to reinforce the brand's traditional British values, and remind consumers of its long and illustrious history.

The idea of reminiscing about "the good old days" also proved effective for Hovis last year, when an ad by Miles Calcraft Briginshaw Duffy took a nostalgically sentimental look at key periods in Britain's history. It allowed consumers to remember a number of pertinent moments from the
20th century, such as both World Wars, England's World Cup win and the miners' strike.

Johnny Hornby, the managing partner of CHI & Partners, says: "We're finding that in the recession, consumers are getting back to basics and going with what they know. They are purchasing items that give them warmth and a sense of security, which is why these nostalgic ads appeal."

Values

"Values are our ideas about what is desirable" Wilkie

Everyone has their own ideas about values which may have been affected by your up bringing or major life events. Here are Kahle's list of values 1983

1. Self Respect
2. Excitement
3. Being Well Respected
4. Self-fulfilment
5. Sense of Accomplishment
6. Warm Relationships With Others
7. Security
8. Fun and Enjoyment
9. Sense of Belonging

My top three values from this list would be Self Respect, Security and Fun and Enjoyment. I have been brought up to always respect myself and others for who they are and this has carried through with me which is why Self Respect is so important to me. How would you list your values? Which is the most important to you? For a full list of values people hold follow this link http://www.selfcounseling.com/help/personalsuccess/personalvalues.html

People's values can be affected by major events in their lives. These are the key news events I can remember in my life;

Robbie Williams leaving Take That - 1995

Princess Diana's Death - 1997
Twin Towers 9/11 - 2001
Tsunami - 2004
London Underground Bombings - 2005
Barak Obama 1st US President - 2009

The most important social institution is the family and many believe that between birth and 7 years is the period when personality and attitudes are predominately formed. Family values are expressed in many adverts such as Kellogg's, OXO, Persil, Hovis bread and Andrex toilet tissue
The following test is just for fun but is interesting to reflect on when its conducted with a group of people.

Rank the following animals 1, 2, 3, 4 in order of preference:

Key order to Animals

1. How you want others (significant people in your life) to perceive you today


2. How you believe you are actually perceived today by others


3. How you would like to be perceived by other in the future


4. How you actually truly want to be, without influence of what other significant people in your life feel and think about you

Lion - Dominant, fearsome, independent, decisive, proactive, isolated, aloof, leading, critical, objective, detached, focused, fearless

Dog - Friendly, faithful, loyal, supportive, protective, dependable, reliable, trustful, trusting, solid, keen, hard-working, loving

Parrot - Lively, fun, free-spirited, sociable, amenable, popular, attractive, cheerful, passionate, spontaneous

Elephant - Tolerant, passive, co-operative, respected, big, strong, controlled, calm, indomitable, revered

People's values can also vary depending on their generation. In the 1960s, Maslow concluded that there are approximately 50 values that motivate and drive our behavior. Rokeach, working at about the same period, decided there were 36. Nobody had really methodically looked at how many there were. The concept was that half a dozen of these values, as priorities, would explain any human behavior. In 1979, after eight years of research with a group of international associates on values, we concluded that every human being has access to approximately 125 values. We also saw that the 125 values fell out developmentally into four phases, each with its own world-view, as illustrated in the Development Map. Warc 2005.

One way you can test your values is by taking the VALS test at http://www.strategicbusinessinsights.com/vals/surveynew.shtml on taking the test myself I got the following results

Strivers are trendy and fun loving. Because they are motivated by achievement, Strivers are concerned about the opinions and approval of others. Money defines success for Strivers, who don't have enough of it to meet their desires. They favor stylish products that emulate the purchases of people with greater material wealth. Many Strivers see themselves as having a job rather than a career, and a lack of skills and focus often prevents them from moving ahead. Strivers are active consumers because shopping is both a social activity and an opportunity to demonstrate to peers their ability to buy. As consumers, they are as impulsive as their financial circumstance will allow.

Motivated by the desire for achievement, Achievers have goal-oriented lifestyles and a deep commitment to career and family. Their social lives reflect this focus and are structured around family, their place of worship, and work. Achievers live conventional lives, are politically conservative, and respect authority and the status quo. They value consensus, predictability, and stability over risk, intimacy, and self-discovery. With many wants and needs, Achievers are active in the consumer marketplace. Image is important to Achievers; they favor established, prestige products and services that demonstrate success to their peers. Because of their busy lives, they are often interested in a variety of time-saving devices.

Gender

People's brains work differently depending on a number of factors. One major factor is whether we are male or female. Being female myself I would like to think that our brains are superior but this is not the case, being different does not make you better or worse.


The BBC have put together an online test that will show what sex your brain is. The test will let you know if you think like a man or a woman. Please take the test at: http://www.bbc.co.uk/science/humanbody/sex/add_user.shtml and post your results for me.

On taking the test myself my results were as shown below;

This shows that I think more like a women but my score was below the average, I have certain areas where I think more like a man.

Avertising for men is alot more simple that advertising aimed at females. Adverts for women tend to have alot more detail and information in writing given to you all at once. This is due to the fact that females tend to remember more details of an image than men. An example of an advert directed to females is this Maybelline advert for Dream Matte Power. There is a picture of a beautiful woman along side an image for the product itself with the different shades it comes in above. There is also alot of text to read on the page, along with the Brand name and the product name there is also two paragraphs of text to read.

Men like there advertising to be plain and straight to the point, an example being Nivea for men adverts for face cream. This advert in comparison to the Maybelline advert has no information to digest. It is straight forward, with the only text saying 'made for men'. There is a small image of the packaging, but with a big image of a man looking in the mirror applying the face cream but his reflection showing something rather more manly.

In our lecture this week we were asked to put together a short presentation to show how different genders use Facebook in different ways.

In our group we decided that females tend to use their Facebook pages more for adding pictures of friends and family on fun nights out where they are looking at their very best. Males on the other hand from the selection of Facebook pages checked seemed to use their pages to attract girls and to play games and take part in quizzes.

From experience of Facebook myself I believe this to be very true. The average female seems to be alot more concious of their pages than males and definately like to be seen in a good light.

Enterprise Week

Enterprise week was so much fun. I took part in the Apprentice challenge which involved taking part in several tasks to make as much money as possible, my group got through to the final and held a James Bond Casino night and the Student Union bar and managed to turn £250 into £550 and we won the task. Here we are collecting our winners cheque;

From left: Chris Brydon, Hannah Holt, John Gidler, Lynne Carter, Ian Nickels and Francine Pym

I also volunteered for Ruth and Vic. The volunteers helped them run the Graduate and Industry panels. The set up was much like question time with the Graduate panel being past students of Bucks New Uni who are mow working in the Marketing industry.

Graduate Panel

Siobhan Sleet, Senior Account Executive, Primal PR http://www.bwpgroup.com/
Rob Millett, Account Executive Mindshare Worldwide http://www.mindshareworld.com/
Abi Cooke, Business Development Manager, Wates http://www.wates.co.uk/careers
Kate Taylor, PR Manager, Oxford Business Group http://www.oxfordbusinessgroup.com/
Kim Button, Marketing Consultant, QuoteMyJob http://www.quotemyjob.com/
Tim Harvey, Account Executive, Leo Burnett http://www.leoburnett.co.uk/

Members of this panel agreed that the best way to attract an employer after graduation was to gain as much work experience as possible before hand, work for free and get your name out there. Also to send your CV to as many companies as possible and be persistent.

Industry Panel

Sue Elms, Executive Vice President, Millward Brown http://www.millwardbrown.com/
Sue Unerman, Cheif Strategy Officer, MediaCom http://mediacom.com/
George Hutchinson, Board Director, Burson-Marsteller http://www.burson-marsteller.com/
Rik Haslam, Group Creative Architect, Rapp http://uk.rapp.com/home/
Matthew Chapman, International Service and System Innovation Director, Billets http://www.ebiquity.com/uk/billetts/

The Industry panel consisted of top industry leaders.The role of marketing in the 21st century was described as all about the brand and many of the industry panel who were questioned agreed that the most important aspect of marketing was to build a relationship with consumers with a strong brand through relevance, interest and engagement. The panel also argued that advertising was fading and public relations are getting stronger. There are a growing amount of companies now that primarily use public relations to promote their products rather than the traditional use of advertising.

Personality and Self-concept

Personality could be defined as "a person's unique make up,
which influences the way the person responds to his or her environment". Soloman (1999)

Self-concept can be defined as " the beliefs a person holds
about his or her own attributes and how he or she evaluates those
qualities". Soloman (1999)

The Myers-Briggs Type Indicator measures our most dominant preferences for taking in information and making decisions. There may not be a clear answer so you can be a little of two or more different types. There is also no better or worse result than another it just helps explain our working type preferences. The MBTI is based on the theory of Carl Jung.

The different personality types are shown by using the following scale;

Extroversion (E) Introversion (I)
Sensing (S) Intuition (N)
Thinking (T) Feeling (F)
Judging (J) Perceiving (P)

My results from the MBTI showed I am an ISTJ - The Examiner. This shows that I am;

"very loyal, faithful, and dependable. They place great importance on honesty and integrity. They are "good citizens" who can be depended on to do the right thing for their families and communities. While they generally take things very seriously, they also usually have an offbeat sense of humor and can be a lot of fun - especially at family or work-related gatherings."

Temperament: SJ (Protector)
Preferences: Introverted (I), Sensing (S), Thinking (T), Judging (J)
Primary Function: Introverted Sensing
Population: 12% (Males: 15.5%, Females: 8.5%)
Famous ISTJs: Evander Holyfield, Warren Buffet, George Washington
Fictional ISTJs: Eeyore (Winnie the Pooh), Cliff Clavin (Cheers)
Careers Matches: Police, Judge, Manager

I believe that this is very accurate of my personality and would encourage others to take this test to see if there personality is matched accurately. To take the test go to http://www.mypersonality.info/personality-types/

Self image - the kind of person we think we are - usually comprises social roles, body image & personality traits.
Ideal Self - is the kind of person we would like to be (e.g. a better mother) which may be slightly or totally different from our self image. The larger the gap the lower our self esteem.
Self esteem - is the extent to which we like ourselves, whether we accept or approve of our self image