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by their values
Sharply different mindsets separate over-62s
By Kevin Downey
What we know is that there's a burgeoning population of Americans over 62. We know they represent an incredible market for a number of products.
What we don't understand nearly as well is how to reach them.
Simply targeting by traditional demographics doesn't work; over-62 is way too broad.
The alternative might well be targeting by values, suggests a new research study from J. Walter Thompson.
"We find people who share values may be interested in the same kind of products or media, even though they have very different demographics from each other," says Robert Snyder, senior partner at JWT Specialized Communications.
Snyder says that virtually all mature consumers fall into eight groups that can be defined by their common values.
While the current research is limited to adults over 62 years old in America, he says those values most likely transcend age groups and cultures around the world.
Among the segments are groups like true-blue believers, which accounts for 20 percent of seniors and is made up of people who place a high value on things like kindness and faith.
Another group is hearth & homemakers, which also accounts for 20 percent of seniors. That group places a higher value on family, relationships and tradition.
Other groups place a higher value on things like intellectual stimulation, financial security, or possessions.
These mature market value groups may seem familiar to any marketer who has delved into the psychology that prompts a person to buy certain products. Similar studies have been conducted for decades with names like VALS.
While those studies fall in and out of favor every few years, Snyder says understanding a person’s values is particularly important for marketers targeting the mature market.
"If you believe that the mature segment is kind, compassionate and has to be surrounded by grandchildren, then you are missing 46 percent of the population," he says. "With demographics, people are stereotyping seniors."
As a result, he says, marketers have actively, but pretty much ineffectively, been targeting the mature market for years.
"Most advertising has been missing the mark. We’re beginning to see the breakdown of mass media because we are moving toward one-on-one marketing. This way I’m talking directly to [someone] rather than to 10 million people [out of] which eight million don’t care."
Snyder says a better understanding of mature market values will impact everything from the creative executions designed to appeal to seniors, the products marketed to them, and eventually the media selected to reach them.
He says that marketers can more effectively target older folks by using words, messages and images that appeal to their values.
But rather than cut a group of people into populations too small to be viable consumer targets, he points out that people over 50 are the fastest growing segment of the population and represent nearly a third of the population.
And, he says, "The 50-plus population accounts for 70 percent of the assets in this country.
"They have the assets and their values are more dramatic."
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Mature Market
Values |
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Values |
Rating |
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Self-Respect |
5 .5 |
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Religiosity |
5 .4 |
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Family Ties |
5 .4 |
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Warm Relationships |
5 .3 |
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Intellectual Curiosity |
5 .2 |
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Compassion |
5 .2 |
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Happiness |
5 .0 |
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Wellness |
5 .0 |
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Conservatism |
4 .6 |
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Financial Security |
4 .4 |
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Social Power |
4 .0 |
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Excitement |
3 .4 |
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Materialism |
2 .8 |
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© 2001 Seniors Research Group; JWT Specialized Communications Mature Market Group |
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Mature
Market Values |
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Segment |
% of Respondents |
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True-blue Believers (kindness, fun, faith) |
20% |
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Hearth & Homemaker (family, relationships, tradition) |
20% |
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Fiscal Conservative (possessions, financial security, health) |
15% |
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Intense Individualists (possessions, thrills, power) |
14% |
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Active Achievers (thrills, power, intellectual) |
10% |
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Liberal Loners (intellectual, kindness, financial security) |
9% |
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In-Charge Intellectuals (intellectual, power, fun) |
7% |
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Woeful Worriers (financial security, faith, family) |
5% |
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© 2001 Seniors Research Group; JWT Specialized Communications Mature Market Group |
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April 3, 2001 © 2001 Media Life
-Kevin Downey is a staff writer for Media Life.
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