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Essay example - Several Topics(Marketing 301)

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Pages 4 (1004 words)
Older people in the family, usually the grandparents, are becoming an increasingly large and important consumer group. Some companies need to see the commercial potential that grandparents present them with. With people living longer, populations across the globe are ageing…

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(Daily Herald, October 5, 2005).
Elderly people spend 2,800 pounds for leisure services for the 50 to 65 age group compared with pounds 1,700 for the under-30s age group. As they grow older beyond 65 years, they are demanding more from companies that supply them with goods and services.
Since these silver spenders are better off, they are fitter, more active and generally will have more money. They will look for gym and fitness services, spa and sports facilities and even retirement villages. Clothing demand will sharply increase as older people still like to look good. Cosmetics need to take into account that older women's skin tends to be drier. Domestic appliances need some changes in design so as to allow grandparents to buy appliances that consider their needs.
Housing design has to consider the needs of grandparents. For example, wider doors to accommodate wheelchairs are just as much use for young mothers with prams, and a downstairs toilet in a house is an asset to everyone in the family, not just for those who find it difficult to climb stairs."
The companies responsible for the creation of consumer electronics, household appliances, communications devices, information services, telemedicine, telecare and social alarms need to combine digital technologies, ageing and health, elderly consumer psychology and product design.
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