002-03.pdf. It's a snapshot of the page taken as our search engine crawled the Web.
The web site itself may have changed. You can check the current page or check for previous versions at the Internet Archive. Yahoo! is not affiliated with the authors of this page or responsible for its content.
Marketing Insights Marketing Insights
An age avalanche is taking place in
the United States. In 15 years there
will be 20 million more 55 70 year-
olds - a staggering 69 percent more
than there are today. As the older
population soars, numbers of younger
Americans (25 to 40 year-olds) will
decline by two million.
What will this dramatic shift in the
population mean to your organization?
Some experts are predicting sales
increases of 35 to 50 percent for prod-
ucts marketed to the 50 plus segment
of the population with flat growth for
products geared toward younger
audiences. Likewise, organizations
that provide healthcare for the elderly
can expect increased demand for
their services.
Attracting the Aging
Population
Although the aging population
is an extremely diverse segment,
some basic strategies will go a
long way in attracting their
buying power or interest as
employees.
Provide good value. Many
retirees live on fixed incomes
and getting the most for their
dollar is important.
Utilize 50-plus specialists as
consultants, or employees in
sales, public relations, market-
ing or product development.
Ask them to provide insights
on how best to appeal to
this distinct group.
Make sure that marketing
materials or employee manu-
als, signage and nametags are
easy to read. Use larger type
and avoid all uppercase letter-
ing, which is more difficult to
read.
Consider safety and comfort.
Provide adequate lighting in
the workplace and parking lot.
Keep the background music to
a minimum.
The Graying
of America
Will the Aging
Population Impact
the Way You Do
Business?
Marketing Insights
Marketing Insights
Marketing & Public Relations Strategies from Bay Marketing Consultants
MARCH 2002
Only time will tell how big this new
market will be, but one thing is certain
- these are not our parents parents
when it comes to spending habits and
lifestyle.
People in this population segment may
have postponed having children and
are raising young children. They could
be enjoying their prime earning years
or have opted for an early retirement.
Some will be in the midst of earning a
degree, starting a business or embark-
ing on a second or third career.
At the same time, they may continue
their quest for self-improvement, start-
ed in the 80s with expensive cosmetic
surgery, diets, hormone replacement
therapies and a quest for natural foods.
In addition to their powerful impact as
consumers, many older workers want
to remain in the workplace due to
financial constraints or a desire to con-
tinue to be productive. Employers are
becoming increasingly aware of their
value. Experience, flexibility, openness
to alternative work arrangements and
the desire to learn new skills make the
50 plus set good job candidates.
Hiring older individuals may also allow
a company to have access to a
vast amount of work experience
at a lower cost since many retirees
have pensions or retirement pay
that supplements their income
and allows them to accept a
lower salary.
Whether your business targets
seniors as customers, or as poten-
tial employees, it makes sense to
review how they fit in your busi-
ness plan today and in the future.
Their numbers, and impact on all
segments of the economy, will
only increase in the future.
In 15 years there will
be 20 million more
55 70 year-olds Promotional Trends
Contact Us:
Marketing Insights is published by Bay Marketing Consultants Editor: Randy deMatas
12327 E. 11 Mile Road Warren, MI 48093 Telephone: 586-757-2177 Fax: 586-757-6997
e-mail: baycon@aol.com www.baymarketingconsultant.com
Bay Marketing Consultants is certified by the Michigan Minority Business Development Council as a Minority Business Enterprise
N
EWSBRIEF
Bay Marketing
Redesigns Website
Bay Marketing Consultants website has been
redesigned. You can check it out online at
www.baymarketingconsultant.com. The site
features information about our services, samples
of our work and archived issues of our newsletter,
Marketing Insights. We invite you to log on to
learn more about our capabilities.
Going For The Green
In the United States, St. Patricks day
(March 17) is celebrated with every-
thing from parades to greeting cards
to wearing green to work. In recent
years the national holiday has become
a major marketing theme, obtaining
similar celebration status as Easter,
Valentines Day and the 4th of July.
Following are some interesting facts
about St. Patricks Day.
St. Patrick was not Irish. He is
believed to be a Brittanic Celt. He
came to Ireland as a missionary. His
real name is believed to be Maewyn
Succat, he took on Patrick, or
Patricus, after he became a priest.
The shamrock is a symbol of the
Christain concept of the Trinity with
the three leaves representing the
Father, Son and Holy Spirit.
Legend has it that he drove the
snakes (a pagan symbol) out of
Ireland.
The first American St. Patrick Day
was held in Boston in 1737.
Whatever the truth, the day is now big
business. The travel industry estimates
more than 10,000 people travel from
Ireland to the U.S. to join in some form
of the festivities and Americans
recognize the day by making it the
ninth-largest card-sending occasion.
One major card manufacturer offers
more than 100 different card designs.
Of course, a variety of partyware, dec-
orations and Irish themed gifts are also
available.
However you choose to celebrate St.
Patricks Day we hope that the
luck of the Irish is with you!
CHOICES Selects Bay
Marketing Consultants
for Marketing Support
The Community Health Institutes
has selected Bay Marketing
Consultants for marketing and pub-
lic relations services for CHOICES.
CHOICES provides pregnancy pre-
vention programs for three Detroit
high schools and family life educa-
tion classes for four Family
Independence Agency offices to
encourage parents with newborns
to build strong family relationships.
Bay Marketing Consultants services
will include creation of a logo,
brochures and other promotional
materials as well as media relations
support. The Community Health
Institutes is a combined Detroit
Medical Center/Wayne State
University department.
Bay Marketing Profiled
on Warren TV News
Bay Marketing Consultants was
recently featured in a business
profile segment by TV Warren
News. The segment featured Bay
Marketing as a growing business
that takes time to support non-
profit organizations in the com-
munity. TV Warren News is pro-
duced by the city of Warren and
is aired four times a day on
Comcast and Americast to 42,000
cable subscribers.
Area Code Change
Remember that our area code has
changed to 586 from 810. We
can be reached at 586-757-2177
and our fax number is 586-757-
6997. Please be sure to update
your records.