Firms who get it wrong
"The one way to ensure failure is to start overtly targeting a product to an older person"
FIRMS who have tried to capitalise on the seniors market by designing products specifically for this age group have had mixed success.
Like those who have made phones with big number pads only to find that devices like the Apple iPhone are a huge hit among older consumers.
Dick Shroud, founder and CEO of 20plus30, a London-based consultancy that specialises in the 50-plus market, says: "I think you can say for certain that the one way to ensure failure is to start overtly targeting a product to an older person."
He cites the example of Proctor and Gamble rolling out a line of Crest and OralB ProHealth For Life dental products 'Selected for Aged 50+ Consumers'. Launched in September last year, it was the company's first attempt at marketing a product to the over-50s consumer.
The company was roundly criticised for signalling the age of the intended customer rather than being age-neutral.
Marketers will say that over-50s don't like being reminded that they are old.
"I was with one of the P&G's largest competitors when it was launched, and none of the brand managers, including me, could believe that such a professional company could do something so naive."