Older people, newer strategies
This week's PoV is from Pathamawan Sathaporn (Linda), Head of Business Planning – Mindshare Thailand, about marketing to the aging population.
Linda reminds marketers not to be misled by age – the urban aging population is more tech savvy than we think due to their ability to adapt quickly to new technology… and grandchildren. Today, it is no longer about segmentation by age or income alone but also psychographic profiles.
The starting line for what we call the aging population is no longer 65 but now down to 50. This group can be segmented via socioeconomic (income and location) which determines how we market to them. The urban aging population is more information driven (high digital media and newspaper consumption). In rural areas where income levels are lower, there is higher consumption of TV / cable TV.