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Saturday, August 23, 2014

Aging Boomers befuddle marketers aching for $15 trillion prize

The article with this title appears in Bloomberg. 

It is a bit of rehash of something that was published a while back and that I blogged about called the 'Ageing Consumer Paradox'. This goes something like... The company that does such a great job of making products for seniors takes great pains not to make products for seniors.

So the instant you set-up a Boomers or Seniors marketing unit you have pretty well failed.

Worth reading the new Bloomberg article as it recounts the waste of money and talent at the University of Cincinnati where it tried to combine students, faculty and corporations, including P&G to create 50+ products.

A few more observations. I tried to do some work with P&G and found it like walking in sand. It was a bureaucratic organisations with closely guarded silos. To be honest I am amazed that they ever launched any products.

Secondly, the last place you are going to find insights into the older market is in a group of academics and students.

So maybe the paradox is not so much of a paradox. Dick Stroud

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