The Forgotten Generation : A Marketer’s Dilemma
Somewhere in the rush of connecting with the booming generation – the millenials – marketers began to overlook an equally, if not more, lucrative demographic altogether – the aging and the aged. The only way this generation was being addressed in advertisements and promotions would be to bring in an emotional angle or a tinge of nostalgia. Clichéd much?
Recent times, however, have seen a welcome change in the trends. Marketers are finally seeing the flaws of segmenting their potential customer base on the basis of demographic – be it age, gender, race or any of the oft-exercised social groups. They are shifting en masse to behavioural segmentation, which has brought forth this significant segment that was staring them in their faces all along.
The “mature market”, as they are frequently referred to, are often stereotyped as out of touch and not interested in the latest gadgets or new life experiences. But in reality they have evolved into a group of smart-phone wielding, internet surfing, travel aficionados with the requisite resources at their disposal. They spend more time consuming all forms of media (read TVs, newspapers, and increasingly social media too!), have purchasing power and are willing to spend more.
The recent Vodafone Supernet 4G ads are a brilliant example of this. From getting tattoos to indulging in adventure sports, an elderly couple is shown as being not just adventurous but also keeping pace with the latest technology using Facebook, Google maps and video calling features. The duo’s contagious enthusiasm certainly caught the attention and the imagination of viewers on a large scale.
It is essential for companies to keep up this trend of targeted promotions for people of this age group as, while millenials are known to be fickle in their choices, the older age groups tend to remain loyal to the brands that they connect to. A first mover’s advantage with such a segment could prove invaluable to firms, specifically technology and automobile companies, whose competitors are yet to wake up and smell the coffee.
About the Author – Kriti is a Business Management student at XLRI Jamshedpur. Her penchant for marketing and all things quirky landed her in MAXI as a Junior Executive Member (2017-18).