Generational Marketing - Over 50's

Old people... This... Or this...?

Nicknames for the over 50's have changed so much over the past few years. From senior citizens to wrinklies and the grey market. Todays market calls them Third Agers. This market is possibly one of the most attractive to marketers, but it has also got the potential for disaster.

The population for the over 50's has grown so much in the UK since the turn of the decade. In 1956 the over 50's represented 36% of the population, in 1991 this increased to over 40% and by now, this has grown even further and looks set to continue. An estimated 50% of the population will be over 50 in the year 2030. People also believe that 80% of the country's wealth is hidden in this age group too.

Not only has the amount of people in the age bracket changed, lifestyle has too. Third Agers used to be thought of as fragile, not in touch with the modern things. This has changed so much though. For many reasons, over 50's have become more computer literate, style concious, know all about music, and are probably more cool then their counterparts 10 or 20 years ago. Over 50's seem to be like their 50 going on 35. More and more celebrities are over 50, Madonna, Paul McCartney and George Clooney just to name a few. Of course though, there are a few oldies who age before their time. This makes it harder to marketers to aim for this group.

A recent TGI survey shows that the Third Agers can be split into 5 groups.

'Thrifty Traditionals' These are 17% of the group, they aren't well off and budget for every penny they have.

'Outgoing Fun Lovers' 20% of the people are in this group. Magazines, travelling, eating out and entertaining are all things the people in this group enjoy.

'Astute Cosmopolitans' These are the ones who have the most money and read the broadsheets. They don't watch much tv and go on foreign holidays the most. 18% fall into this group.

'Apathetic Spenders' These are the ones who are most likely to fall into debt with credit cards as they like to buy things they cannot afford. 22% make up this group.

'Tenperate Xenophobes' This is the final group. They don't like foreign food or travelling abroad either, they are very much heavy tv users.

Some companies have been fully invested in this market for ages. Saga, travel and magazine company, has in recent years lowered their age minimum from 60 to 50 to encorporate the changes in trends of people retiring early. However, most companies either ignore this age range or advertise to it really badly. Managing director Rob Starkey of W1 Agency says that 'most briefs stop at 45 and then totally ignore the people after this'. People don't want to do something where they meet people just like them, they know what they're meant to do, they don't need to be shown.

These sorts of adverts are the sorts of adverts which show the Third Agers what they're meant to be doing. The adverts like the ones below, who have no obvious specific target market are the ones which the over 50's like for them.

Generational Marketing

Generations are constantly changing. Values, behaviour, meanings and beliefs are all setting each generation further and further apart from each other. For example, the first St Trinians is about normal boarding school girls who have adventures, the new St Trinians is about girls in barely there clothing running around like numptys. This just shows how times have changed from years ago to todays society.Advertisers have to adapt to this change so adverts are aimed towards their right target group instead of one their not aiming at.

Generational marketing is basically marketing a product, brand or service to a specific generation, using nostalgia and their belief system. Because of each generations different characteristics, it is easy to catergorise a generation by the way the speak and act. Marketers tend to refer to generations as potential targets rather then using a particular group. There are 8 generations that marketers target:

1. Pre-school - These are the actual children or toddlers which have not yet begun school. Due to the ASA standards, it makes it really hard for advertisers to market towards this generation. But they may not need it as they're not fully developed yet in the way they think about things such as advertisements.

2. Children - This is possibly one of the smallest generations, and as the generations around them are changing, this generation might as well be gone all together. Typically, these children are intrested in toys, such as Barbie and Action Man, as well as Pokemon cards and other collectables.

3. Tweens - The ages of which Tweens are defined have changed in recent years. It used to be 8 but now it has got to as low as 6 years old, which should in my opinion still be classed as children.

4. Teens - Possibly one of the largest generations, this generation are one of the most digitally able and is constantly getting in the news for the wrong reasons. Marketers may find it easy to market towards this generation due to the news articles and just from looking at the culture between all of the people.

5. Generation Y - The younger adults of all the generations, this group are the most media savvy towards all types of advertisments.

6. Generation X - This generation is said to be the most ignored, and misunderstood in the country. They have possibly been through the most politically and culturally in their time and due to this, it is the reason they're so misunderstood. They are said to not respond to the hyped advertising this country is so used to.

7. Baby Boomers - These people were born after World War 2, after all the rationing and everyone was settled down again. This generation can be split into young baby boomers and old baby boomers. Young baby boomers are media savvy as they have so much experience of the media and the changes it can make. This could be said to be the same for the old baby boomers, but it is as if they have built up a reistance to the media as they have experienced so so much of it.

8. Grey - This is the generation which is expected to change the most, as it is estimated that half of the nation will be in this generation by the year 2030. They are said to be the most like the younger generations in their attitudes, even if theyre not up to the same technological ability of them. It's obvious that the older generation are becoming more independant and able.

This graph shows the amount of each generation in the US, however this is a similar story all over the world, something which marketers are very concious of. This could be a reason for why adverts are changing so much through out the years.

The tween generation is possibly the one generation that has changed the most. The age range for it has become as low as 6 years old. This generation has changed the most possibly to do with the change in the sorts of things the kids are watching, reading and doing. Programmes have become a lot more grown up for this generation, Hannah Montana is a great example of this as the star Miley Cyrus has said that she wants it to be 'like Sex and the City', a programme designed for adults not for children younger then teenagers.

During the lecture, we were asked to (in groups) pick one generation and teach the other people in the group about that generation. The generation we were given was Generation Y. In this group are people born after 1981. Generation Y have the largest recorded birth rate in human history, worldwide there is an estimated 200million of Generation Y. This generation have dafferent values compared to older generations. The values are very self orientated, having self respect, fun and enjoyment and a work-life balance in their lives atthe top of the list.

As they are all about themselves, it makes it harder for advertisers to promote products their way as they don't like being told what to do or say. Generation Y are also the most advertising savvy of all the generations, they know when they are trying to be conned and when something is really worth buying. This could be due to the technology they are acustomed to and that they are up to date with networking sites, such as Facebook and MSN.

Things that would make this group feel nostalgic and bring back good memories are things like:

All of these items and people were around when this generation were young, by aiming towards this group with these products, advertisers would be more likely to be able to catch their attention and persuade them to buy the product, as they may be able to relate to the items in the advert.

There are different adverts aimed towards Generation Y. Most adverts have some sort of imagery or sounds which could make it aimed towards this generation in some way or another.

This advert shows the sorts of imagery used to capture the attention of the generation.

Nostalgia and Memory

Nostalgia

Nostalgia makes people want to return to a certain point in their lives. It is the sentimental yearningness to go back to a happy time in life.

Nostalgia can come about after a person uses any of the 5 senses to remember something which has happened previously in their lives, be it their childhood, teenage years or something that happened only a few years ago in their life which was a happy memory. As it is said that only happy memories remain in the brain, nostalgia only mainly happens with happy memories, not sad. Solomon has viewed nostalgia as 'bitter sweet emotion, where the past is viewed with both sadness and longing.'

When someone is feeling nostalgic, certain things about them change. Their mood firstly improves, good memories provide people with joy making them feel happier. Body language changes with the person's mood, a more positive and upbeat tone of voice is taken on. The person also seems more genuine, virtuous and more open towards people.

Images can bring back these memories.







For me, these images bring back memories of what happened in the past and good times during my life. Each of them are meaningful and has a pragmatic reasoning behind it.


Images aren't the only thing which makes people feel nostalgic. Sounds are a great way to make people feel something towards their past. Hearing a piece of music from their youth, from an advert they remember or something their dad used to play can all back memories.




Memory


Memory is different from nostalgia in that it recovers more information about past knowledge or events. It is an organisms ability to store, retain and recall information, short term or long term.


Short term memory is the brains system for remembering information in use at that time. At one time, most people can hold between 5 and 9 pieces of information in at one time. Any more then this and the person may end up forgetting the bits they learnt in the middle.



Long term memory is the part of the brain which has unlimited capacity to remember things over a long period of time. This can be anything, from random pieces of information to pratical things such as driving a car. Long term memories are harder to acquire but harder to lose. Retrevial of these memories can be difficult or even impossible is no cue is present, like nostalgia.

Advertisers use memory and nostaliga to promote a product to a group of people. Some adverts use nostalgic triggers to create a sensory brand between the person and the product.






This advert is using a setting of a picnic, with thing that would typically be thought to be int he 1970's. Marks and Spencers are using decades past to get women to buy their items by using memories they could possibly have had. The flowy, hippiness of the advert shows women having a picnic, playing around together in a huge field with flowery dresses on. The advert could have easily been from the 70's.

This advert is using a beer's manufacturing country to be a nostalgic trigger. The South African flag is an obvious item in a few scenes during the advert, this along with the green floor and the accent of the narrator would bring back memories of South Africa for a person who has been there before. The ad is showing the men, proud to be from South Africa and is implying that the beer is great as it is from that country.

Values

Each person has a different set of values compared to other individuals. Their own set values may be in a different order or place, or they might not have that value at all. Values can come from a number of things; a person's upbringing, groups that they are a part of, environment, adverts, etc. It is thought that values are at the foot of all of a person's behaviour, be it towards others, economically or morally.

According to Kahle, there are 9 main values nearly everyone has:

Self respect

Excitment

Being well liked

Fun and enjoyment

Self fulfilment

Sense of accomplishment

Warm relationships with others

Security

Sense of belonging

These are usually the same for everyone, everyone will have most of these in their top values for life.

Events in a person's life can have major or minor effects on their lifestyle values. If a person has a large change in their life, it is likely to have an affect on the way they see different things. Historical timelines are a good way of looking at the changes of values in society as a whole, event such as terrorist attacks and wars change the way society views others and products.

A personal timeline is a good way to look back and see what may have affected their own life.

This is my personal timeline. It doesn't consist of many events as not much has happened. Probably the biggest event is my parents divorce, it didnt affect my values that much as i was so young when it happened, but since then it has made me think about things but not so much my values of life. Getting back in touch with my family was a big step as i think it made my personality change but not so much my values.

There are many theories for the values of people. The laddering theory is a main one.

The laddering theory believes that people have 'terminal values' which they use different strategic steps to get to. Products become ways to achieve these terminal values, as they can usually help to get through to the value. Products can also be the reason for the wanting of the terminal value, e.g. putting on weight, using something out of fashion. The end states are usually one or two of the values from Kahles list of values.

Marketers can use this technique to get people to buy their product. Researchers help to find the company's strategic position within the market so they can aim their product at the right people who, could in the end, use the product for their terminal value. Weight Watchers is a great example of this.

Sometimes, people try to press their values onto others. For example, the Government expresses all their values through law and the state. By doing this, all people know about their values and some feels that they should have these values and uphold these as it is what the Government believe. Therefore these values are not the values of the individual.

Groups

A group is a set of people, usually 3 or more, who share the same norms. The members of the group must be able to communicate freely, and develop interdependant roles within the group.

People form groups for different reasons, some of the main being survival and acceptance. It is known that people feel more comfortable if they feel accepted in society, all of which is easier to do in groups. Groups fulfil a persons needs and wants. As Maslow states in his hierarchy of needs, a 'sense of belonging' is within the pyramid as it is vital to a persons lifestyle.

There are different types of groups, friendship groups, work groups, etc. All groups, however, affect the socialisation and behaviour of the people in the group.

For each individual, there are 8 types of group they can be associated with:

Nealry every person has these types of groups to refer to, because the people in their lives fall into different catergories.

Personally these are the people who fall into which group for me:

Reference - Celebrities

Acquired - University groups

Aspirational - Some of the groups i'd turned down

Disassociation - Chavs

Contrived - Working groups

Associative - Working class society

Peer - Friends

Ascribed - Working class society

Each group has different values and norms to other groups. Work groups have different criteria for people to have compared to friendship groups as they value different things from people's characters. Something which is deemed acceptable in one group may be seen as something totally out of order in another. People who want to fit in copy or show the same sort of behaviour that the rest of the people in the group do. This is the same for buying behaviour, as they all buy the same items, or same sort of items when it comes to clothing and shoes. Some people do it subconciously as they are so used to doing it they now do it naturally as they dont want to be kicked out of a group or thought badly of within the group.

This makes it easier for advertisers to market towards the segment they are looking at. By using peoples weaknesses in wanting to belong, advertisers use people of the market in their adverts to show the type of people who are using the products. This makes sure that people buy the product as their sense of belonging is strong.

This advert shows a person using an i-Phone, and that they are on Facebook. This indicates that it is a popular person who is using the product as they have many friends on Facebook. This may try and persuade people who dont perceive themselves as popular to buy the product because they might think they would get more friends by having a product such as this.