What don’t I know about the behaviours of the 50+? One hell of a lot!
I have recently been immersed in reading what the industry gurus think about 50+ marketing. Being brutally honest, I think they all talk a ‘good story’ but dig beneath the surface for evidence of a fact or two to substantiate their arguments and you are consistently disappointed. I can only concluded that most of our theories and models of 50+ marketing are based on a tissue thin base of primary research.
Please prove me wrong and tell me where I can get convincing answers to these questions:
Q1. How homogeneous is the brand behaviour of the 50+ across different product and service types? What are the main factors that change their brand allegiances? Is Young and Rubicam's view of consumers correct (see post on November 10) or do older consumers remain receptive to new brand propositions?
Q2. How serious is the rupture in the finances resulting from the pension crisis in conditioning purchasing behaviour? The existing model of a 50+ consumer’s financial resilience argues that although earning potential peaks in the early fifties it is compensated by a rapid decline in financial commitments. Is this really an accurate representation of the real world?
Q3. Is the stereotype of the baby boomer that sees their 50s, 60s and 70s as a seamless extension of their early life rooted in reality? What are the life goals of this group and how do they translate into their purchasing expectations?
Q4. Does a person's perceived age have any relevance to how they make purchasing decisions?
Q5. Other than at the extremes of age, is the language, desires and behaviour drivers of different age groups converging?
Q6. Will the desire for trusted and emotionally comfortable products from the past (as witnessed by popularity of retro products) become a lasting consumer need?
Q7. The new wave of 50 year-olds were at the forefront of the IT revolution. Is their interest in new technologies going to burn-out or could they become the new generation of bleeding edge technology users?
All answers gratefully received. Not theories, but some good old fashioned research evidence.
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