Understanding 50 Plus Summary

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Brief version of the final presentation done for a recent marketing assignment

Brief version of the final presentation done for a recent marketing assignment

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  • 1. Understanding the 50 plus Customer Soumya R Nair Lancaster MBA 2008-2009 PS: This is a brief version of the complete report/presentation. For detailed report please contact soumi28@gmail.com
  • 2. Why is 50 Plus Important? 15% increase in 45 + from 2006-2016… 35000 30000 25000 20000 15-45 15000 45 10000 plus Total net financial wealth of 50plus... 5000 0 2006 2011 2016 2021 2026 2031 National Statistics 2007C Source: ACRS ,SAGA, Abbey Savings 2007
  • 3. Total value of overseas holiday for older people -> £14.9 billion International Passenger Survey-2008
  • 4. What more can we find out? • Questions we are trying to answer • How do they book their holidays • Where do they look for information • What do they listen to ? • What do they watch ? • What do they read ? • What do they trust ? • Answers lie in – Focus group study – Statistical evidence
  • 5. Focus Group Study From the discussions..
  • 6. Statistical Evidence…
  • 7. 50 plus for holiday purpose can be grouped into 3 sub segments….
  • 8. Affluent Boomers-Holiday Booking Pattern
  • 9. Rocking Seniors Holiday Characteristics
  • 10. Comfortably Off Media- Television and Radio preference quite similar to Affluent Boomers...
  • 11. How to reach them? Key Influencers Online Marketing
  • 12. Moral of the Story... • 50 plus is growing, very wealthy and they love holidays • It is not one homogeneous segment, but consist of diverse sub segments with pockets of wealth • We know what they watch, listen, read and trust, and some characteristics about their holidays • To target them, we know their key influencers • Certain things to keep in mind when targeting them • HX can increase market share in this segment (currently c.a. xx%) by targeting them more effectively.