In comparison to younger people, people in the mature market do this:
- save/invest more;
- spend more on luxury products and services;
- shop during morning hours;
- prefer “one-stop” shopping;
- consider shopping to be a social event;
- are very convenience-oriented;
- patronize reputable/traditional outlets;
- seek personal attention and special services such as valet parking and gift wrapping;
- choose products based on quality and brand name;
- are less price conscious and deal prone;
- use credit as often;
- are as likely to show non-significant responses to sweepstakes and telemarketing; and
- complain less when they are not satisfied with something they have bought.
So how do we convert these into profits? Read on to see the typical 4 Ps of marketing for the seniors market.
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