As American markets have evolved, so has the consumer. The aging American consumer (40 and over), now the New Customer Majority, makes purchasing decisions based on values, a shift that traditional marketing has failed to accommodate. The result is consumer dissatisfaction, diminished brand loyalty and expensive, ineffective advertising. Authors David B. Wolfe and Robert E. Snyder argue that marketers should acknowledge the new demographics and use techniques from brain research, developmental psychology, sociology and demographics to reach aging consumers. While the authors selectively cite data and successful marketing campaigns, they also offer a sound narrative and a refreshing, common sense point of view. On the downside, they use extensive marketing jargon, perhaps because they are ad consultants promoting their expertise. Citing attitudinal studies and new behavioral and brain chemistry research, they explain that marketers must account for their consumers’ "season of life" to develop effective campaigns. getAbstract recommends this book to corporate marketing, investor relations, human resources, customer service and product development departments. It might even bridge the generation gap.
In this summary, you will learn
- Why traditional marketing no longer delivers expected results;
- Why advertisers need a new marketing approach to the aging American consumer; and
- How that approach should work.
About the Authors
David B. Wolfe, an international consultant, is considered one of the founders of developmental relationship and ageless marketing. His clients have included AT&T, Coca-Cola, Metropolitan Life and Marriott. Robert E. Snyder is a partner with Retirement Living Services of Hartford, Conn., and formerly headed the Mature Market Group at J. Walter Thompson. He is an expert on the values, belief systems and buying habits of older Americans.